Bill Text: TX HB300 | 2021 | 87th Legislature 1st Special Session | Introduced
Bill Title: Relating to the maximum amount of the local option residence homestead exemption from ad valorem taxation by a taxing unit.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-07-26 - Filed [HB300 Detail]
Download: Texas-2021-HB300-Introduced.html
| By: Middleton | H.B. No. 300 | |
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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, 2022, but only | ||
| if the constitutional amendment proposed by the 87th Legislature, | ||
| 1st Called Session, 2021, 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. | ||
