Texas 2017 - 85th 1st C.S.

Texas House Bill HB95

Caption

Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.

Impact

The bill's impact would significantly influence state taxation policies regarding property taxes for older adults. It aims to provide financial relief to senior citizens, particularly those who may be on fixed incomes, by ensuring that their homes remain affordable as property values rise. The exemption aims to create a more supportive environment for the elderly, making it easier for them to retain their homes without the fear of overwhelming property tax bills.

Summary

House Bill 95 seeks to amend the Texas Tax Code by adding provisions for exemptions from ad valorem taxation specifically for elderly individuals aged 75 and older, as well as their surviving spouses. The bill aims to exempt the total appraised value of the residence homesteads of these individuals from property taxes, thereby reducing their financial burden. According to the proposed changes, if the spouse of an individual aged 75 or older qualifies for this exemption and meets specified conditions, they can also benefit from the same exemption after the death of their spouse.

Contention

As with any policy regarding tax exemptions, there may be points of contention surrounding this bill. Critics may argue that exempting this class of property from taxation could lead to decreased revenue for local governments, which rely on property taxes for funding essential services. Proponents, however, emphasize the importance of protecting the most vulnerable populations in society, suggesting that the benefit to the elderly and their families outweighs the potential loss in tax revenue. The bill also includes provisions that would only activate if a related constitutional amendment is approved by voters, adding another layer of decision-making to its implementation.

Latest HB95 Activity

Companion Bills

TX HJR24

Enabling for Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.

Similar Bills

TX HB2268

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 HB1473

Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.

TX HB384

Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.

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

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 HB1772

Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.