TX
Texas House Bill HB72

Texas 2017 - 85th 1st C.S.

Texas House Bill HB72

Caption

Relating to an exemption from ad valorem taxation of the residence homestead of a Purple Heart recipient or the surviving spouse of a Purple Heart recipient.

Impact

Upon passage, HB72 would amend Chapter 11 of the Texas Tax Code, establishing that qualified Purple Heart recipients would benefit from a complete property tax exemption on their primary residence. For surviving spouses to qualify, they must not have remarried since the recipient's death, ensuring that benefits are preserved for the family of those honored veterans. The bill is expected to help ease the financial responsibilities of property ownership, thus aiding in the transition of veterans and their families into civilian life.

Summary

House Bill 72, known as the Purple Heart Homestead Act, introduces an exemption from ad valorem taxation for the residence homestead of individuals who have received the Purple Heart Medal and their surviving spouses. The bill seeks to recognize and honor the sacrifices made by military veterans by providing a significant financial relief measure that can enhance the quality of life for these individuals and their families. This act clarifies the definitions relating to a 'Purple Heart recipient' and sets forth the eligibility criteria for the tax exemption which is intended to alleviate the financial burden of property taxes on those who have served the nation.

Sentiment

The general sentiment surrounding HB72 has been supportive, particularly among veteran advocacy groups and lawmakers who emphasize the importance of acknowledging the service of Purple Heart recipients. The discussions have largely been framed in terms of respect and gratitude for those who have made significant sacrifices, which has led to a favorable reception. However, there remain concerns from some tax revenue advocates about the impact of additional tax exemptions on local government funding. Critics argue that such exemptions could lead to funding shortfalls that would affect public services.

Contention

Notable points of contention include the potential financial implications of the bill on local governments, as exemptions like these can diminish their property tax revenue. There are discussions around how these exemptions might affect overall public funding and whether they disproportionately benefit a specific demographic, leading to a broader debate on tax equity and local fiscal responsibility. Nevertheless, the prevailing view is that the importance of recognizing veteran service through financial relief far outweighs the concerns raised.

Latest HB72 Activity

Companion Bills

TX HJR20

Enabling for 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 a Purple Heart recipient or the surviving spouse of a Purple Heart recipient.

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TX HJR87

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

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TX HJR20

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

TX HJR19

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

NJ A110

Revises criteria to establish base year for homestead property tax reimbursement after relocation.

NJ S1756

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