Proposing a constitutional amendment to authorize a political subdivision of this state to extend the number of days that aircraft parts that are exempt from ad valorem taxation due to their location in this state for a temporary period may be located in this state for purposes of qualifying for the tax exemption.
Impact
The enactment of HJR133 would have significant implications for the aviation industry in Texas. By enabling political subdivisions to grant longer timeframes for exempted aircraft parts to remain within the state, it is anticipated that businesses would benefit from reduced taxation pressures. This could potentially attract more aviation-related businesses to the area, increasing jobs and investment in Texas's burgeoning aerospace sector.
Summary
HJR133 proposes a constitutional amendment to allow political subdivisions in Texas to extend the duration that aircraft parts, exempt from ad valorem taxation, can remain within the state for qualification of the tax exemption. Currently, these parts must be transported outside the state no later than 175 days after acquisition or a timeframe set by the governing body. This amendment would allow extensions up to 730 days, providing more flexibility for businesses involved in the aviation industry and promoting economic development.
Contention
While HJR133 aims to bolster economic development, there are potential points of contention. Opponents may argue that extending the exemption period could lead to decreased revenue for local governments dependent on taxation from such properties. There could also be concerns raised about the equitable application of these exemptions across various political subdivisions, potentially leading to imbalances in local tax revenues and services among different regions of Texas.
Proposing a constitutional amendment authorizing the governing body of a political subdivision other than a school district to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the market value of an individual's residence homestead.
Proposing a constitutional amendment authorizing the governing body of a political subdivision to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the market value of an individual's residence homestead.
Proposing a constitutional amendment to provide for an exemption from ad valorem taxation by certain political subdivisions of a portion of the market value of the residence homestead of the parent or guardian of a person who is disabled and who resides with the parent or guardian.
Proposing a constitutional amendment providing for an exemption from ad valorem taxation for public school purposes of a dollar amount or a percentage, whichever is greater, of the market value of a residence homestead and providing for an adjustment of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of a person who is elderly or disabled to reflect increases in the exemption amount.
Proposing a constitutional amendment providing for an exemption from ad valorem taxation for public school purposes of a dollar amount or a percentage, whichever is greater, of the market value of a residence homestead and providing for an adjustment of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of a person who is elderly or disabled to reflect increases in the exemption amount.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation by a political subdivision located wholly or partly in a populous county of a specified dollar amount, or a greater dollar amount specified by the governing body of the political subdivision, of the assessed value of a residence homestead.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation by a political subdivision other than a school district of a portion of the assessed value of a residence homestead based on the average assessed value in the preceding tax year of all qualified residence homesteads that are located in the same county as the homestead.