| 1 | 1 | | 86R10754 SMT-F |
|---|
| 2 | 2 | | By: Middleton H.B. No. 3127 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the maximum amount of the local option residence |
|---|
| 8 | 8 | | homestead exemption from ad valorem taxation by a taxing unit. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Section 11.13(n), Tax Code, is amended to read as |
|---|
| 11 | 11 | | follows: |
|---|
| 12 | 12 | | (n) In addition to any other exemptions provided by this |
|---|
| 13 | 13 | | section, an individual is entitled to an exemption from taxation by |
|---|
| 14 | 14 | | a taxing unit of a percentage of the appraised value of the |
|---|
| 15 | 15 | | individual's [his] residence homestead if the exemption is adopted |
|---|
| 16 | 16 | | by the governing body of the taxing unit before July 1 in the manner |
|---|
| 17 | 17 | | provided by law for official action by the body. If the percentage |
|---|
| 18 | 18 | | set by the taxing unit produces an exemption in a tax year of less |
|---|
| 19 | 19 | | than $5,000 when applied to a particular residence homestead, the |
|---|
| 20 | 20 | | individual is entitled to an exemption of $5,000 of the appraised |
|---|
| 21 | 21 | | value. The percentage adopted by the taxing unit may not exceed 100 |
|---|
| 22 | 22 | | [20] percent. |
|---|
| 23 | 23 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
|---|
| 24 | 24 | | for a tax year that begins on or after the effective date of this |
|---|
| 25 | 25 | | Act. |
|---|
| 26 | 26 | | SECTION 3. This Act takes effect January 1, 2020, but only |
|---|
| 27 | 27 | | if the constitutional amendment proposed by the 86th Legislature, |
|---|
| 28 | 28 | | Regular Session, 2019, to increase the maximum amount of the local |
|---|
| 29 | 29 | | option residence homestead exemption from ad valorem taxation by a |
|---|
| 30 | 30 | | political subdivision is approved by the voters. If that amendment |
|---|
| 31 | 31 | | is not approved by the voters, this Act has no effect. |
|---|