Bill Text: TX SB2468 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the maximum amount of the local option residence homestead exemption from ad valorem taxation by a taxing unit.
Spectrum: Bipartisan Bill
Status: (N/A - Dead) 2019-04-01 - Co-author authorized [SB2468 Detail]
Download: Texas-2019-SB2468-Introduced.html
| 86R10754 SMT-F | ||
| By: Creighton | S.B. No. 2468 | |
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| relating to the maximum amount of the local option residence | ||
| homestead exemption from ad valorem taxation by a taxing unit. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 11.13(n), Tax Code, is amended to read as | ||
| follows: | ||
| (n) In addition to any other exemptions provided by this | ||
| section, an individual is entitled to an exemption from taxation by | ||
| a taxing unit of a percentage of the appraised value of the | ||
| individual's [ |
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| by the governing body of the taxing unit before July 1 in the manner | ||
| provided by law for official action by the body. If the percentage | ||
| set by the taxing unit produces an exemption in a tax year of less | ||
| than $5,000 when applied to a particular residence homestead, the | ||
| individual is entitled to an exemption of $5,000 of the appraised | ||
| value. The percentage adopted by the taxing unit may not exceed 100 | ||
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| SECTION 2. This Act applies only to ad valorem taxes imposed | ||
| for a tax year that begins on or after the effective date of this | ||
| Act. | ||
| SECTION 3. This Act takes effect January 1, 2020, but only | ||
| if the constitutional amendment proposed by the 86th Legislature, | ||
| Regular Session, 2019, to increase the maximum amount of the local | ||
| option residence homestead exemption from ad valorem taxation by a | ||
| political subdivision is approved by the voters. If that amendment | ||
| is not approved by the voters, this Act has no effect. | ||
