Relating to the treatment for school finance purposes of school district optional residence homestead ad valorem tax exemptions.
Impact
The changes proposed in SB393 primarily affect funding mechanisms for schools, as it amends the guidelines surrounding taxable property values. The bill outlines provisions for how exemptions are to be calculated, potentially leading to variations in state funding for school districts based on their local tax structures. It emphasizes ensuring that state funding reflects a uniform approach to property evaluations, potentially benefiting underfunded districts if tax exemptions were previously not accounted for adequately.
Summary
SB393 aims to address the treatment of optional residence homestead ad valorem tax exemptions for school finance purposes in Texas. By amending certain sections of the Education Code and Government Code, the bill seeks to clarify how tax exemptions impact the computation of a school district's taxable value of property, particularly in the context of state funding. This legislation could influence the distribution of funds provided by the state to school districts and alter the financial landscape for education funding within Texas.
Contention
There may be points of contention surrounding SB393 related to the implications of these tax exemptions on local districts. Proponents of the bill argue that a more standardized process will lead to fairer distribution of state resources, helping to reduce funding disparities across districts. Conversely, skeptics may raise concerns about the loss of local control over tax exemptions and the ability of districts to tailor their financial strategies to meet specific community needs, fearing that this could exacerbate inequalities.
Last_action
As of February 17, 2009, SB393 was referred to the Finance Committee, reflecting ongoing discussions and debates surrounding its implications on school funding and property tax administration in Texas.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Relating to a limitation on the total amount of ad valorem taxes that a school district may impose on certain residence homesteads following a substantial school tax increase.
Relating to the authority of the governing body of a taxing unit to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.
Relating to the limitation on the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 20 consecutive tax years.
Relating to a limitation on increases in the appraised value for ad valorem tax purposes of the residence homesteads of military veterans, individuals who are disabled or 65 years of age or older, and their surviving spouses.
Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, an adjustment in 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 the exemption amount, and the protection of school districts against the resulting loss in local revenue.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the authority of a taxing unit other than a school district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the authority of a taxing unit other than a school district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.