Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation a percentage of the assessed value of property owned by certain disabled veterans.
Impact
If passed, this amendment would alter Section 2(b) of Article VIII of the Texas Constitution. The amendment outlines specific disability ratings that qualify veterans for various levels of property tax exemption. For instance, veterans with a disability rating of less than 10 percent would not qualify, while those with ratings from 10 to 70 percent would receive exemptions corresponding to their level of disability. This change would directly affect how property tax assessments are conducted for disabled veterans across Texas, promoting equity in financial responsibilities for those who have served in the military.
Summary
HJR70 is a joint resolution that proposes a constitutional amendment aimed at providing property tax exemptions to certain disabled veterans and their families. Specifically, the bill allows for the exemption of a percentage of the assessed value of property owned by disabled veterans, their surviving spouses, and minor children. The measure seeks to recognize the sacrifices made by veterans and provide financial relief in the form of reduced property taxes, enhancing their quality of life.
Contention
There may be some points of contention regarding the bill. Advocates argue that providing such tax exemptions is a just compensation for the sacrifices made by veterans, particularly those who are disabled. On the other hand, critics could raise concerns about the fiscal implications of these exemptions on local government budgets and the potential for increased pressure on other taxpayers. Balancing the needs of disabled veterans with those of the broader community remains a critical consideration as discussions surrounding HJR70 progress.
Enabled by
Relating to the exemption from ad valorem taxation of a percentage of the assessed value of a property owned by certain disabled veterans and the amount of the exemption for the surviving spouses and children of certain disabled veterans.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of all or part of the market value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran regardless of whether the property was the residence homestead of the surviving spouse when the disabled veteran died.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment authorizing the legislature to increase the amount of the exemption from ad valorem taxation by a school district of the market value of the residence homestead of a person who is elderly or disabled.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation a mineral interest that has a value of less than a certain amount.
Proposing a constitutional amendment to authorize the legislature to exempt from ad valorem taxation a percentage of the market value of the tangible personal property a person owns that consists of inventory held for sale at retail.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes, to increase the amount of an exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust 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 certain exemption amounts, and to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.