Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation a percentage of the assessed value of property owned by certain disabled veterans.
Impact
If passed, the amendment would modify Article VIII of the Texas Constitution, specifically Section 2(b), allowing for a structured tax relief benefit for disabled veterans. This includes an exemption of 20% for disability ratings of 10% to 30%, increasing gradually to 100% for veterans rated as 100% disabled. The initiative not only encourages support for veterans' welfare but also seeks to provide a financial relief mechanism amid rising property taxes.
Summary
HJR187 is a joint resolution proposing a constitutional amendment which aims to authorize the Texas legislature to exempt certain disabled veterans from ad valorem taxation on a portion of their property value. The bill establishes a framework for assessing the level of exemption based on the disability rating assigned by the United States Department of Veterans Affairs. This framework delineates specific percentages of the property value eligible for exemption, depending on the severity of the veteran's disability.
Contention
The proposed amendment is expected to generate discussions regarding its fiscal implications on local and state revenue. Some legislators may question the equity of providing property tax exemptions solely to disabled veterans, potentially arguing that this could place additional financial burdens upon local governments. Furthermore, a subset of voters might express concerns regarding the fairness of tax burdens, advocating for broader tax reforms that encompass other vulnerable groups beyond veterans.
Enabled by
Relating to the exemption from ad valorem taxation of a percentage of the assessed value of a property owned by certain disabled veterans and the amount of the exemption for the surviving spouses and children of certain disabled veterans.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of all or part of the market value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran regardless of whether the property was the residence homestead of the surviving spouse when the disabled veteran died.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment authorizing the legislature to increase the amount of the exemption from ad valorem taxation by a school district of the market value of the residence homestead of a person who is elderly or disabled.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation a mineral interest that has a value of less than a certain amount.
Proposing a constitutional amendment to authorize the legislature to exempt from ad valorem taxation a percentage of the market value of the tangible personal property a person owns that consists of inventory held for sale at retail.
Relating to the exemption from ad valorem taxation of the total appraised value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran.