Texas 2017 - 85th 1st C.S.

Texas House Bill HJR42

Caption

Proposing a constitutional amendment providing for an exemption from ad valorem taxation for public school purposes of a portion of the market value of a residence homestead based on the median market value of all residence homesteads in the state 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 the increased exemption amount.

Impact

If enacted, this bill would have significant implications on the state's laws regarding property taxation, particularly in relation to public funding for schools. The proposed changes are designed to relieve financial burdens on elderly and disabled homeowners by preventing increases in property taxes while they reside in their homesteads. Moreover, local school districts may experience a reduction in tax revenue, prompting the legislature to establish measures to mitigate any potential revenue losses incurred due to the exemptions.

Summary

HJR42 proposes a constitutional amendment that aims to provide an exemption from ad valorem taxation for public school purposes based on the market value of residence homesteads. Specifically, the bill seeks to exempt a portion of residence market value, equal to 25 percent of the highest median market value of residence homesteads in Texas from ad valorem taxes for educational purposes. Additionally, it outlines measures to increase tax exemptions for elderly or disabled homeowners, adjusting tax limitations to reflect higher exemption amounts.

Contention

Discussion around HJR42 may arise due to differing opinions on property taxation and its impact on public school funding. Proponents argue that protecting vulnerable populations like the elderly and disabled from rising property taxes is essential for their financial security. Detractors, however, may express concerns about the resulting decrease in revenue for public schools, arguing that such tax exemptions could undermine the funding necessary for effective educational programs and services.

Latest HJR42 Activity

Companion Bills

TX HB288

Enabled by Relating to an exemption from ad valorem taxation by a school district of a portion of the appraised value of a residence homestead based on the median market value of all residence homesteads in this state, 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 any resulting loss in local revenue.

Similar Bills

TX HB3212

Relating to providing for a reduction of the appraised value of a residence homestead for ad valorem tax purposes for the first tax year in which the owner qualifies the property for a residence homestead exemption based on the amount by which the limitation on increases in the appraised value of a residence homestead reduced the appraised value of the owner's former residence homestead for the last tax year in which the owner qualified the former residence homestead for a residence homestead exemption.

TX HJR8

Proposing a constitutional amendment establishing a limitation on the total amount of ad valorem taxes that political subdivisions may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.

TX HJR153

Proposing a constitutional amendment to authorize the legislature to provide for a reduction of the appraised value of a residence homestead for ad valorem tax purposes for the first tax year in which the owner qualifies the property for a residence homestead exemption based on the amount by which the limitation on increases in the appraised value of a residence homestead reduced the appraised value of the owner's former residence homestead for the last tax year in which the owner qualified the former residence homestead for a residence homestead exemption.

TX SJR6

Proposing a constitutional amendment relating to the calculation of a limitation on the total amount of ad valorem taxes that may be imposed by certain political subdivisions on the residence homestead of a person who is elderly or disabled.

NJ A3065

Establishes pilot program in Division of Taxation to provide income tax credits for the opening of certain homesteads to hunting activities in areas with high number of wildlife incidents.

TX HJR14

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 a person who is elderly or disabled to reflect any increase in the exemption amount.

TX HJR22

Proposing a constitutional amendment to appropriate money from the economic stabilization fund to the foundation school fund and use the money to finance a temporary increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district and 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.

TX HJR14

Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce 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.