Texas House Bill HB1032

Texas 2019 - 86th Regular

Caption

Relating to the establishment of a limitation on the total amount of ad valorem taxes that taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.

Impact

If enacted, HB 1032 will create significant changes to how ad valorem taxes are calculated and assessed for the targeted demographic. It effectively freezes the taxable amount for qualifying individuals at the level set in their first year of qualification, promoting predictability in their tax expenses. The bill not only aims to ease the financial pressure on individuals who are elderly or disabled but also ensures that surviving spouses retain these protections as long as they meet the conditions set forth by the legislation.

Summary

House Bill 1032 proposes a limitation on the total amount of ad valorem taxes that can be imposed on the residence homesteads of elderly individuals and individuals with disabilities, along with their surviving spouses. Specifically, the bill seeks to amend current tax code sections to ensure that once these individuals qualify for the tax exemption, their taxes cannot exceed the amount imposed in their initial qualifying year. This initiative is aimed at providing financial relief to vulnerable populations by protecting them from escalating property tax burdens, particularly in times of rising property values.

Contention

Notably, some points of contention surrounding HB 1032 include concerns from local taxing authorities about the potential reduction in revenue due to the tax limitations. Critics may argue that while the legislation supports vulnerable citizens, it could also jeopardize funding for essential public services that rely on property tax revenues. Proponents, however, counter that the bill is essential for safeguarding the rights and financial stability of elderly and disabled residents, ensuring they are not unduly burdened by tax increases that outpace their fixed incomes.