Texas House Bill HB1265

Texas 2019 - 86th Regular

Caption

Relating to the transfer of a limitation established by a county, municipality, or junior college district on the amount of ad valorem taxes imposed on the residence homestead of an elderly or disabled person.

Impact

The enactment of HB 1265 would directly impact tax regulations concerning elderly and disabled residents, potentially easing their financial burdens related to property taxes. By permitting the transfer of tax limitations between residences, the bill seeks to provide continuity in tax relief for those who may seek new housing options while still qualifying for the necessary exemptions. This could be especially vital for individuals who might need to relocate to more suitable living environments due to health considerations or other personal factors, thereby promoting stability within this demographic.

Summary

House Bill 1265 addresses the limitation set by counties, municipalities, or junior college districts on the amount of ad valorem taxes imposed on the residence homestead of elderly or disabled individuals. The bill proposes amendments to Sections 11.261(g) and (h) of the Tax Code, creating a framework for transferring the existing tax limitation when an individual moves to a different residence that qualifies for the same exemption benefits. This initiative is aimed at ensuring that elderly and disabled residents continue to receive financial relief through ad valorem tax restrictions as they potentially change their residence due to various circumstances such as downsizing or moving for health reasons.

Contention

There may be debates surrounding HB 1265 regarding its financial implications on local government revenues. Supporters argue that the transfer limitation serves a crucial purpose in safeguarding the well-being of vulnerable populations, while opponents might raise concerns about the potential impact on local budgets and the equitable distribution of tax burdens. Legislators will need to address how the implementation of such a bill could affect overall funding for local services and whether provisions are in place to mitigate any adverse fiscal consequences that might arise from a reduction in taxable property values due to transferred exemptions.