Bill Text: TX HB224 | 2021 | 87th Legislature 1st Special Session | Introduced
Bill Title: Relating to the authority of a person who acquires a residence homestead to receive an ad valorem tax exemption for the homestead in the year in which the property is acquired.
Spectrum: Partisan Bill (Republican 10-0)
Status: (Introduced - Dead) 2021-07-09 - Filed [HB224 Detail]
Download: Texas-2021-HB224-Introduced.html
| 87S10139 TJB-D | ||
| By: Shine | H.B. No. 224 | |
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| relating to the authority of a person who acquires a residence | ||
| homestead to receive an ad valorem tax exemption for the homestead | ||
| in the year in which the property is acquired. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 11.42(d), Tax Code, is amended to read as | ||
| follows: | ||
| (d) A person who acquires property after January 1 of a tax | ||
| year may receive an exemption authorized by Section 11.13, other | ||
| than an exemption authorized by Section 11.13(c) or (d), 11.17, | ||
| 11.18, 11.19, 11.20, 11.21, 11.23, 11.231, or 11.30 for the | ||
| applicable portion of that tax year immediately on qualification | ||
| for the exemption. | ||
| SECTION 2. Chapter 26, Tax Code, is amended by adding | ||
| Section 26.1115 to read as follows: | ||
| Sec. 26.1115. CALCULATION OF TAXES ON RESIDENCE HOMESTEAD | ||
| GENERALLY. (a) If an individual receives one or more exemptions | ||
| under Section 11.13 for a portion of a tax year as provided by | ||
| Section 11.42(d), except as provided by Subsection (b) of this | ||
| section, the amount of tax due on the property for that year is | ||
| calculated by: | ||
| (1) subtracting: | ||
| (A) the amount of the taxes that otherwise would | ||
| be imposed on the property for the entire year had the individual | ||
| qualified for the exemptions for the entire year; from | ||
| (B) the amount of the taxes that otherwise would | ||
| be imposed on the property for the entire year had the individual | ||
| not qualified for the exemptions during the year; | ||
| (2) multiplying the remainder determined under | ||
| Subdivision (1) by a fraction, the denominator of which is 365 and | ||
| the numerator of which is the number of days in that year that | ||
| elapsed before the date the individual first qualified the property | ||
| for the exemptions; and | ||
| (3) adding the product determined under Subdivision | ||
| (2) and the amount described by Subdivision (1)(A). | ||
| (b) If an individual receives one or more exemptions to | ||
| which Subsection (a) of this section applies for a portion of a tax | ||
| year as provided by Section 11.42(d) and the exemptions terminate | ||
| during the year in which the individual acquired the property, the | ||
| amount of tax due on the property for that year is calculated by: | ||
| (1) subtracting: | ||
| (A) the amount of the taxes that otherwise would | ||
| be imposed on the property for the entire year had the individual | ||
| qualified for the exemptions for the entire year; from | ||
| (B) the amount of the taxes that otherwise would | ||
| be imposed on the property for the entire year had the individual | ||
| not qualified for the exemptions during the year; | ||
| (2) multiplying the remainder determined under | ||
| Subdivision (1) by a fraction, the denominator of which is 365 and | ||
| the numerator of which is the sum of: | ||
| (A) the number of days in that year that elapsed | ||
| before the date the individual first qualified the property for the | ||
| exemptions; and | ||
| (B) the number of days in that year that elapsed | ||
| after the date the exemptions terminated; and | ||
| (3) adding the product determined under Subdivision | ||
| (2) and the amount described by Subdivision (1)(A). | ||
| (c) If an individual qualifies to receive an exemption as | ||
| described by Subsection (a) with respect to a property after the | ||
| amount of tax due on the property is calculated and if the effect of | ||
| the qualification is to reduce the amount of tax due on the | ||
| property, the assessor for each taxing unit shall recalculate the | ||
| amount of the tax due on the property and correct the tax roll. If | ||
| the tax bill has been mailed and the tax on the property has not been | ||
| paid, the assessor shall mail a corrected tax bill to the individual | ||
| in whose name the property is listed on the tax roll or to the | ||
| individual's authorized agent. If the tax on the property has been | ||
| paid, the collector for the taxing unit shall refund to the | ||
| individual who paid the tax the amount by which the payment exceeded | ||
| the tax due. | ||
| SECTION 3. This Act applies only to a residence homestead | ||
| acquired on or after the effective date of this Act. | ||
| SECTION 4. This Act takes effect January 1, 2022. | ||
