Relating to an exemption from ad valorem taxation of the residence homesteads of certain totally disabled veterans and to the amount of the exemption from ad valorem taxation to which a disabled veteran is entitled based on disability rating.
Impact
The bill would significantly alter the taxing landscape for totally disabled veterans, encouraging state recognition of the challenges faced by this group. It aims to exempt the total appraised value of a veteran's homestead, thereby nullifying property taxes on their primary residence. This measure could have broader implications for local governments reliant on property tax revenues, potentially leading to changes in budget allocations and funding for community services. It also sets a legal precedent that may inspire further legislation aimed at supporting veterans in Texas.
Summary
Senate Bill 469 seeks to amend the Texas Tax Code to provide a full exemption from ad valorem taxation for residence homesteads owned by veterans who are deemed totally disabled due to service-connected disabilities. Specifically, this bill targets individuals who have been awarded a 100 percent disability compensation rating from the United States Department of Veterans Affairs and includes provisions for those recognized as individually unemployable due to their disabilities. The intent is to alleviate financial burdens on these veterans, recognizing their service and sacrifices to the nation.
Contention
Discussions surrounding SB469 may highlight differing opinions on tax exemptions and fiscal responsibility. Supporters advocate for expanded benefits for disabled veterans as a matter of justice and recognition, calling attention to the socio-economic difficulties many face post-service. However, there may be concerns from some stakeholders regarding the long-term sustainability of such exemptions and their effects on local tax revenues. Critics might argue that while the intent is noble, the financial implications could adversely affect community resources, necessitating a balance between veteran benefits and fiscal prudence.
Identical
Relating to an exemption from ad valorem taxation of the residence homesteads of certain totally disabled veterans and to the amount of the exemption from ad valorem taxation to which a disabled veteran is entitled based on disability rating.
Relating to the exemption from ad valorem taxation of the total appraised value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran.
Relating to the provision of state aid to certain local governments to offset the cost of the exemption from ad valorem taxation of the residence homestead of a 100 percent or totally disabled veteran.
Relating to the amount of the exemption from ad valorem taxation by a school district of the appraised value of the residence homestead of a person who is elderly or disabled.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and 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 the exemption amount.