TX
Texas House Bill HB2268

Texas 2017 - 85th Regular

Texas House Bill HB2268

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

Caption

Relating to a temporary increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a temporary reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and a temporary protection of school districts against the resulting temporary loss in local revenue.

Impact

The implementation of HB2268 would temporarily raise the exemption from $25,000 to $71,000 for adults, significantly lowering the taxable value of properties classified as residence homesteads for those eligible. Additionally, the bill outlines a reduction in the ad valorem tax limitation imposed on the homesteads of the elderly or disabled individuals to align with the increased exemption amount. This change aims to enhance financial support for these particular groups, potentially leading to a more stable housing situation for them.

Summary

House Bill 2268 addresses the ad valorem taxation of residence homesteads within Texas, particularly focusing on properties owned by elderly or disabled individuals. The bill proposes a temporary increase in the amount of exemption on residence homesteads from ad valorem taxation by school districts. This change aims to alleviate some of the financial burden on these vulnerable populations, allowing them to retain more equity in their properties through reduced tax liabilities.

Contention

While HB2268 has strong support among advocates for the elderly and disabled who would benefit from tax relief, concerns have also been voiced regarding the temporary nature of these adjustments. Critics argue that temporary measures may not suffice for long-lasting financial stability for the elderly and disabled as property values continue to rise. Furthermore, the potential loss of local revenue for school districts, as outlined in the bill's provisions to protect them from such economic impacts, raises questions about the long-term financial implications for educational funding in these communities.

Latest HB2268 Activity

Companion Bills

TX HJR75

Enabling for Proposing a constitutional amendment to appropriate money from the economic stabilization fund to the foundation school fund and use the money to finance a temporary increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district and a temporary reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.

Similar Bills

TX HB190

Relating to a temporary increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a temporary reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and a temporary protection of school districts against the resulting temporary loss in local revenue.

TX SB1

Relating to certain restrictions on the imposition of ad valorem taxes and to the duty of the state to reimburse certain political subdivisions for certain revenue loss; making conforming changes.

TX HB1679

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, a reduction of the limitation on the total amount of ad valorem taxes that may be imposed by a school district on the homestead of an elderly or disabled person to reflect any increase in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX SB5

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB4352

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB288

Relating to an exemption from ad valorem taxation by a school district of a portion of the appraised value of a residence homestead based on the median market value of all residence homesteads in this state, a reduction of the limitation on the total amount of ad valorem taxes that may be imposed by a school district on the homestead of an elderly or disabled person to reflect any increase in the exemption amount, and the protection of school districts against any resulting loss in local revenue.

TX SB1

Relating to a reduction in the maximum compressed tax rate of a school district and additional state aid for certain school districts impacted by compression, an increase in the amount of certain exemptions from ad valorem taxation by a school district applicable to residence homesteads, 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 amounts, and the protection of school districts against the resulting loss in local revenue.

TX SB3

Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration.