Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property that arises from the installation in the property of certain energy efficiency-related improvements.
Impact
If enacted, HB 4950 would alter the tax code to incentivize homeowners to invest in energy efficiency upgrades. The bill is expected to encourage the adoption of better energy standards and practices among Texans, potentially leading to lowered energy demands and increased sustainability efforts. Additionally, the exemption could make it more feasible for low- to middle-income families to improve their homes' energy performance without the burden of increasing their property taxes for these enhancements. This change is seen as a step towards fostering a more sustainable future in Texas.
Summary
House Bill 4950 aims to provide an exemption from ad valorem taxation on the amount of appraised value of real property that results from the installation of specific energy efficiency-related improvements. This measure is introduced as a means to alleviate the financial burden faced by Texas homeowners due to high property taxes and energy costs. The bill outlines various improvements that qualify for the exemption, including high-efficiency heating and cooling systems, smart thermostats, and energy-efficient windows, which can help reduce overall energy consumption in homes across the state.
Sentiment
The sentiment surrounding HB 4950 is largely positive among supporters who believe that the bill will help address pressing issues like rising property taxes and expensive energy bills. Stakeholders in the discussion highlighted the need for a balanced approach to energy supply and demand, viewing this bill as a crucial move toward achieving that balance. However, some may voice concerns regarding the fiscal implications of the tax exemptions, as such measures could affect local government revenue from property taxes, leading to debates about the overall financial sustainability of the initiative.
Contention
While the primary focus of HB 4950 is to promote energy efficiency and provide tax relief, there is notable contention regarding its potential impact on local government finances. Opponents may argue that by exempting properties from increased taxation, the bill could lead to a shortfall in funds that local governments depend on for essential services. Furthermore, the effectiveness of the proposed tax incentives in actually prompting homeowners to make efficiency improvements remains to be critically assessed, which could lead to further discussions about the implementation and monitoring of such measures.
Enabling for
Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation of the amount of the market value of real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of residential real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of certain residential real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property that arises from the installation or construction on the property of a generator that is primarily for the production and distribution of energy for on-site use.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property that arises from the installation or construction on the property of a generator that is primarily for the production and distribution of energy for on-site use.
Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation of the amount of the market value of real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property that arises from the use of xeriscape on the property.
Proposing a constitutional amendment to authorize the legislature to provide for an exemption from ad valorem taxation of the amount of the market value of residential real property that arises from the installation in the property of certain energy efficiency-related improvements.
Relating to an exemption from ad valorem taxation of the amount of the appraised value of real property located in certain counties that arises from the installation or construction on the property of border security infrastructure and related improvements and to the consideration of the price paid by certain governmental entities for a parcel of or easement in real property purchased for the purpose of installing or constructing such infrastructure when appraising other real property.
Relating to a local option exemption from ad valorem taxation of the portion of the appraised value of a person's property that is attributable to the installation on the property of certain water conservation systems.