Bill Text: TX HB490 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the authority of the governing body of a taxing unit that adopts an exemption from ad valorem taxation of a percentage of the appraised value of an individual's residence homestead to set a limit on the dollar amount of the exemption to which an individual is entitled in a tax year.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-05-07 - Reported favorably as substituted [HB490 Detail]
Download: Texas-2015-HB490-Introduced.html
84R1527 TJB-F | ||
By: Rodriguez of Travis | H.B. No. 490 |
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relating to the authority of the governing body of a taxing unit | ||
that adopts an exemption from ad valorem taxation of a percentage of | ||
the appraised value of an individual's residence homestead to set a | ||
limit on the dollar amount of the exemption to which an individual | ||
is entitled in a tax year. | ||
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. The percentage | ||
adopted by the governing body may not exceed 20 percent. If the | ||
percentage set by the governing body [ |
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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. A governing body that | ||
adopts an exemption under this subsection may by official action | ||
taken before July 1 provide that if the percentage set by the | ||
governing body produces an exemption in a tax year of more than a | ||
dollar amount specified by the governing body when applied to a | ||
particular residence homestead, the owner of the homestead is | ||
entitled to an exemption of the dollar amount of the appraised value | ||
specified by the governing body [ |
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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, 2016, but only | ||
if the constitutional amendment proposed by the 84th Legislature, | ||
Regular Session, 2015, authorizing the governing body of a | ||
political subdivision that adopts an exemption from ad valorem | ||
taxation of a percentage of the market value of an individual's | ||
residence homestead to set a limit on the dollar amount of the | ||
exemption to which an individual is entitled in a tax year is | ||
approved by the voters. If that amendment is not approved by the | ||
voters, this Act has no effect. |