Relating to the abatement of a pending sale to foreclose an ad valorem tax lien on a residence homestead.
Impact
If enacted, SB1378 would amend Chapter 33 of the Texas Tax Code, adding specific rights for homeowners in the context of tax lien foreclosures. By allowing for the abatement of sales, the bill aims to prevent potential unjust loss of homes due to tax-related foreclosures. The implementation of this bill is intended to empower homeowners and inform them of their rights regarding tax liens, potentially altering the landscape of property taxation and foreclosure proceedings in Texas.
Summary
SB1378 introduces legislation aimed at providing property owners with the ability to abate the sale of their residence homestead when facing foreclosure due to unpaid ad valorem taxes. This bill is significant in the context of homeowner protections, allowing individuals who own and occupy a property to stop a pending foreclosure sale by submitting an affidavit to relevant appraisal district officials. This new process is designed to give homeowners a chance to address their tax obligations without losing their home.
Contention
There may be points of contention surrounding the enforcement and practical implications of this legislation. Critics may argue about the potential for abuse or complications in the filing process for abatement affidavits. Additionally, there may be concerns from tax authorities regarding the implications of delaying foreclosure sales, which could affect local government revenues that depend on timely tax collection. The balance between protecting homeowners and ensuring local governments can effectively manage their tax revenue will likely be a focal point of debate.
Relating to the determination and reporting of the number of residence homesteads of elderly or disabled persons that are subject to the limitation on the total amount of ad valorem taxes that may be imposed on the properties by school districts and of the number of residence homesteads of certain property owners for which the owner deferred collection of a tax, abated a suit to collect a delinquent tax, or abated a sale to foreclose a tax lien.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Relating to the rate at which interest accrues in connection with the deferral or abatement of the collection of ad valorem taxes on certain residence homesteads.