Texas House Bill HB1059

Texas 2013 - 83rd Regular

Caption

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

Impact

If enacted, HB1059 would modify the existing payment structure for property taxes, specifically benefiting homeowners by providing them with an extended timeframe to meet their tax obligations without fear of penalties. By permitting payments to be made after the initial installment and extending the deadlines associated with these payments, the bill aims to enhance affordability for citizens, especially those facing financial difficulties. This could lead to improved compliance rates and reduced instances of tax delinquency.

Summary

House Bill 1059 aims to amend the Texas Tax Code regarding the installment payments of ad valorem taxes for residence homesteads. The bill allows eligible individuals to pay their property taxes in four equal installments without incurring penalties or interest, provided they pay the first installment before a specified delinquency date. This measure is designed to offer greater flexibility for homeowners in managing their tax payments, potentially easing the financial burden during challenging periods.

Contention

While many proponents of HB1059 argue it presents a common-sense approach to helping homeowners, there may be concerns regarding the potential impact on local government financing. Critics may argue that by providing extended payment options, a delay in tax revenues could affect the budgeting and funding of local services and infrastructure. Discussions might also revolve around whether additional safeguards are necessary to ensure that this legislation does not inadvertently encourage procrastination in tax obligations.