Relating to the appropriation of money from the property tax relief fund.
Impact
If enacted, HB2499 would continue to support property tax relief by ensuring that funds can be utilized not just for maintaining current exemptions but potentially for further increases in those exemptions. It establishes a framework wherein two-thirds of fund appropriations would foster greater homestead exemptions or school tax reductions, while one-third would focus on equalizing school district enrichment tax efforts. This could lead to a significant redistribution of funding among schools and affect how local taxes are levied.
Summary
House Bill 2499 proposes amendments to section 403.109 of the Government Code, which governs the Property Tax Relief Fund in Texas. The legislation aims to redefine how appropriations from this fund are managed, particularly in relation to the residence homestead exemption and school district maintenance and operations tax rates. Currently, funds may only be appropriated to cover increases in the homestead exemption or reduce school district tax rates to levels that existed in 2005 until specific fiscal conditions are met.
Contention
The bill may raise discussions around fiscal equity versus local control in terms of educational funding. Some stakeholders might argue that further increasing homestead exemptions without addressing underlying funding disparities could place greater financial strain on school districts, especially in areas with lower property wealth. Proponents of the bill, however, would likely emphasize its potential for reducing tax burdens on homeowners, thus supporting economic stability for families across Texas.
Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.
Relating to providing property tax relief through the public school finance system, exemptions, and limitations on taxes and providing franchise tax relief.
Relating to providing property tax relief through the public school finance system, exemptions, and limitations on taxes and providing franchise tax relief.
Relating to providing school district property tax relief through rent-relief and through adjusting entitlements, compression, and exemptions under the public school finance system.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, to establish the property tax relief to rental households fund and authorize the legislature to provide payments to rental households from that fund based on a proportion of rent paid, and to except certain appropriations to pay for school district ad valorem tax relief and property tax relief payments to rental households from the constitutional limitation on the rate of growth of appropriations.