Texas House Bill HB240

Texas 2019 - 86th Regular

Caption

Relating to installment payments of ad valorem taxes imposed on certain residence homesteads.

Impact

If enacted, HB240 would amend existing provisions in the Texas Tax Code that govern the payment methods for ad valorem taxes. This act is expected to take effect starting January 1, 2020, and will apply to taxes for the tax year beginning on or after that date. By permitting installment payments, the bill intends to alleviate the upfront burden of tax payments for vulnerable populations, which could lead to increased financial stability for these homeowners.

Summary

House Bill 240 aims to modify regulations regarding the installment payments of ad valorem taxes specifically imposed on certain residence homesteads. The bill focuses on those who qualify for exemptions, particularly individuals who are aged 65 or older or are disabled, including disabled veterans and their surviving spouses. The legislation seeks to ease the financial burden of tax payments for these specified groups, allowing them more flexibility in how they manage their tax obligations.

Contention

There may be potential points of contention surrounding HB240. While supporters advocate for the bill as a necessary measure to protect senior citizens and disabled individuals from financial strain, critics may argue about the implications of such tax reforms on local government funding. The reliance on installment payments might raise concerns regarding the consistency and predictability of tax revenues that local governments rely on to fund essential services.