Bill Text: TX HB224 | 2021 | 87th Legislature 1st Special Session | Introduced

Texas House Bill 224 (Prior Session Legislation)

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.

Sponsorship: Partisan Bill (Republican 10)

Status: (Introduced - Dead) 2021-07-09 - Filed [HB224 Detail]

Download: Texas-2021-HB224-Introduced.html

	87S10139 TJB-D

	By: Shine	H.B. No. 224



	A BILL TO BE ENTITLED
	AN ACT
	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.