Relating to a local option election in a county to set a limit on the maximum appraised value of a residence homestead for ad valorem tax purposes of less than 110 percent but not less than 103 percent of the appraised value of the property for the preceding tax year.
Impact
If enacted, HB23 would directly influence the taxation process at the county level, allowing voters to decide on the maximum appraised values for their homes. This shift could lead to significant financial implications for homeowners and local governments alike, potentially stabilizing tax amounts for residents while altering revenue streams for county services that rely on property tax income. The bill is designed to enable local constituents to have a say in their economic situation, potentially reshaping the landscape of local taxation in Texas.
Summary
HB23 proposes changes to how counties in Texas may conduct local option elections concerning the maximum appraised value of residence homesteads for ad valorem tax purposes. The bill allows counties to set a limit on the maximum appraised value of residential properties between 103% and less than 110% of the previous year's appraised value. This measure aims to provide local governments more flexibility in managing property taxes, potentially offering some relief to homeowners facing rising property values and associated tax increases.
Sentiment
The reception of HB23 has been mixed among legislators and stakeholders. Proponents argue that this bill empowers local voters and provides necessary relief from increasing property taxes, a sentiment that resonates particularly with constituents concerned about affordability in housing. Conversely, critics voice concerns that altering appraised values might restrict necessary funding for local services and infrastructure, leading to potential deficits in essential services. The debate encapsulates a broader discussion about taxation, local governance, and the fiscal health of communities.
Contention
Key points of contention surrounding HB23 involve its implications for local governance and funding. Opponents worry that the flexibility to lower appraised values could lead to a reduction in available funds for critical public services, which depend heavily on steady property tax revenues. Additionally, there are concerns about equitable treatment of property owners across different communities, as not all areas may experience the same rates of property value increases. The unfolding discussions around this bill reflect deeper conflicts over fiscal policy, community needs, and the role of local versus state control in taxation matters.
Enabling for
Proposing a constitutional amendment authorizing the legislature to provide for a local option election in a county to set a limit on the maximum appraised value of a residence homestead for ad valorem tax purposes of less than 110 percent but not less than 103 percent of the appraised value of the property for the preceding tax year.
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.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 103.5 percent or more of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision 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 25 consecutive tax years.
Relating to an exemption from ad valorem taxation by a taxing unit other than a school district of a portion of the appraised value of a residence homestead based on the average appraised value in the preceding tax year of all qualified residence homesteads located in the same county.
Relating to a limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on the residence homestead of a lower-income individual that is located in a homestead preservation district.
Relating to a limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on the residence homestead of a lower-income individual that is located in a homestead preservation district.
Relating to a temporary limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on a residence homestead rendered uninhabitable or unusable as a result of a natural disaster.
Relating to a temporary limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on a residence homestead rendered uninhabitable or unusable as a result of a natural disaster.