81R622 JD-D
By: Hinojosa S.B. No. 1151
A BILL TO BE ENTITLED
AN ACT
relating to increasing the maximum amount of the local option
residence homestead exemption from ad valorem taxation by a taxing
unit from 20 percent to 30 percent.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.13(n), Tax Code, is amended to read as
follows:
(n) In addition to any other exemptions provided by this
section, an individual is entitled to an exemption from taxation by
a taxing unit of a percentage of the appraised value of the
individual's [his] residence homestead if the exemption is adopted
by the governing body of the taxing unit before July 1 in the manner
provided by law for official action by the body. If the percentage
set by the taxing unit produces an exemption in a tax year of less
than $5,000 when applied to a particular residence homestead, the
individual is entitled to an exemption of $5,000 of the appraised
value. The percentage adopted by the taxing unit may not exceed 30
[20] percent.
SECTION 2. This Act applies only to ad valorem taxes imposed
for a tax year beginning on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2010, but only
if the constitutional amendment proposed by the 81st Legislature,
Regular Session, 2009, to increase the maximum amount of the local
option residence homestead exemption from ad valorem taxation by a
political subdivision from 20 percent to 30 percent is approved by
the voters. If that amendment is not approved by the voters, this
Act has no effect.