TX
Texas House Bill HB490

Texas 2015 - 84th Regular

Texas House Bill HB490

Voted on by House
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the authority of the governing body of a taxing unit that adopts an exemption from ad valorem taxation of a percentage of the appraised value of an individual's residence homestead to set a limit on the dollar amount of the exemption to which an individual is entitled in a tax year.

Impact

The bill alters how local governments can manage personal property tax exemptions, particularly in relation to the exemptions offered to residents. By enabling taxing units to set maximum dollar limits on exemptions, it could help streamline exemption policies and potentially make tax revenues more predictable for local governments. The adjustments may affect lower-income homeowners differently, potentially reducing their financial assistance, depending on how local governments choose to implement these changes.

Summary

House Bill 490 seeks to modify the authority granted to the governing bodies of taxing units concerning tax exemptions related to an individual's residence homestead. Specifically, the bill allows these governing bodies to adopt exemptions that represent a percentage of the appraised value of a homestead, with a stipulation that they can also set a limit on the dollar amount of the exemption that an individual may receive within a tax year. This policy change aims to bring a certain level of flexibility to local taxing units while manageably addressing tax burdens on homeowners.

Contention

Concerns may arise regarding the implications of limiting exemptions as such practices could disproportionately affect vulnerable populations, including the elderly and low-income families. Critics might argue that while the bill aims to enhance local tax management, it could inadvertently reduce the level of financial support available for those who rely heavily on property tax exemptions. Additionally, local governments may face pressure to balance these new limitations with their responsibilities toward community welfare and support.

Latest TX HB490 Activity

View All Events: TX 2015 - 84th Regular HB490

Companion Bills

TX HJR57

Enabling for Proposing a constitutional amendment authorizing the governing body of a political subdivision that adopts an exemption from ad valorem taxation of a percentage of the market value of an individual's residence homestead to set a limit on the dollar amount of the exemption to which an individual is entitled in a tax year.

Previously Filed As

TX SB546

Relating to the authority of the governing body of a taxing unit other than a school district 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 and to the authority of the governing body of any taxing unit that has adopted an exemption from ad valorem taxation of a percentage of the appraised value of an individual's residence homestead to reduce the amount of or repeal the exemption.

TX SB196

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.

TX HB2054

Relating to the authority of the commissioners court of a county to adopt an exemption from ad valorem taxation by the county of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.

TX SB854

Relating to the authority of the commissioners court of a county to adopt an exemption from ad valorem taxation by the county of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.

TX HB419

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.

TX HB3974

Relating to an exemption from ad valorem taxation by a taxing unit 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 taxing unit, of the appraised value of a residence homestead.

TX SJR31

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.

TX HB4029

Relating to an exemption from ad valorem taxation by a school district of a dollar amount or a percentage, whichever is greater, of the appraised value of a residence homestead, an adjustment of the limitation on the total amount of ad valorem taxes that may be imposed by a school district on the homestead of a person who is elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB58

Relating to an exemption from ad valorem taxation by a school district of a dollar amount or a percentage, whichever is greater, of the appraised value of a residence homestead, an adjustment of the limitation on the total amount of ad valorem taxes that may be imposed by a school district on the homestead of a person who is elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB5134

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.

Similar Bills

No similar bills found.