Texas House Bill HJR69

Texas 2017 - 85th Regular

Caption

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 a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of an elderly or disabled person to reflect any increased exemption amount.

Impact

The proposed amendment adjusts current taxation laws by shifting how exemptions are calculated for public school funding in Texas. This change has the potential to significantly alter tax liabilities for a number of homeowners, especially those eligible for additional exemptions based on age or disability status. According to the amendment, if a homeowner is elderly or disabled, this new policy would be crucial in reducing their financial burden while maintaining stability in their homestead's taxation rate, aiding in long-term financial sustainability for these vulnerable populations.

Summary

HJR69 proposes a constitutional amendment aimed at providing exemptions from ad valorem taxation for public school purposes on residence homesteads. Specifically, the amendment suggests a valued exemption of either a dollar amount or a defined percentage of the market value, ultimately benefitting homeowners, particularly the elderly and disabled. It positions the greater of $25,000 or 13% of the home's market value as exempt from property taxes for public school purposes, creating a monetary relief mechanism for residents against rising educational tax burdens.

Contention

Debate surrounding HJR69 is expected, particularly regarding its implications for school funding at a district level. Proponents advocate that increasing exemptions could provide necessary financial relief, thus encouraging home ownership and stability among the elderly and disabled. However, opponents may argue that decreasing revenue from school taxes could negatively impact educational funding and quality. The balancing act between providing necessary tax relief and ensuring robust funding for public education is likely to elicit varied opinions and legislative deliberation as the bill progresses.