81R14352 JD-D
By: Otto, Oliveira, Paxton, Taylor, Pea, H.B. No. 3613
et al.
A BILL TO BE ENTITLED
AN ACT
relating to the determination of the market value of a residence
homestead for ad valorem tax purposes on the basis of the property's
value as a residence homestead.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 23.01, Tax Code, is amended by adding
Subsection (c) to read as follows:
(c) The market value of a residence homestead shall be
determined solely on the basis of the property's value as a
residence homestead, regardless of whether the residential use of
the property by the owner is considered to be the highest and best
use of the property.
SECTION 2. This Act takes effect only if the constitutional
amendment proposed by the 81st Legislature, Regular Session, 2009,
authorizing the legislature to provide for the ad valorem taxation
of a residence homestead solely on the basis of the property's value
as a residence homestead is approved by the voters. If that
amendment is not approved by the voters, this Act has no effect.
SECTION 3. This Act applies only to an ad valorem tax year
that begins on or after the effective date of this Act.
SECTION 4. This Act takes effect January 1, 2010.