TX
Texas House Bill HB4092

Texas 2019 - 86th Regular

Texas House Bill HB4092

Caption

Relating to the maximum amount of the local option residence homestead exemption from ad valorem taxation by a school district and the effect of such exemptions on the provision of funding under the foundation school program.

Impact

The primary consequence of HB 4092 would be to alter the taxation landscape for homeowners within Texas school districts. By increasing the exemption cap, the bill could lead to a decrease in school districts' taxable income, necessitating adjustments in funding mechanisms and allocations. This shift could affect the financial resources available for local education and possibly lead to state intervention to fill gaps created by the reduced tax revenue from property taxes, ensuring public schools receive adequate funding despite the proposed reductions.

Summary

House Bill 4092 amends the Education Code in Texas, specifically addressing the maximum amount of the local option residence homestead exemption from ad valorem taxation imposed by school districts. The bill seeks to modify current provisions regarding homestead exemptions to potentially allow a much larger exemption, thereby impacting how funding is allocated under the foundation school program. By stipulating that no more than 50 percent of a taxpayer's property value could be exempted from school district taxes, the bill introduces significant changes to property tax rates for residents who qualify for this exemption.

Contention

Notably, there is potential contention surrounding HB 4092, especially among policymakers concerned about the implications for school funding. Proponents argue that increasing the exemption will provide financial relief to homeowners, making housing more affordable. However, critics may express that such measures could undermine the fiscal stability of school districts, which rely heavily on property taxes for funding. There is also concern about balancing tax relief for homeowners with consistent, quality education funding that adequately supports school programs.

Companion Bills

TX HJR127

Enabling for Proposing a constitutional amendment to increase the maximum amount of the local option residence homestead exemption from ad valorem taxation by a school district.

Previously Filed As

TX SB196

Relating to the authority of the governing body of a taxing unit to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.

TX HB117

Relating to a limitation on the total amount of ad valorem taxes that a school district may impose on certain residence homesteads following a substantial school tax increase.

TX HB5046

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB3205

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB794

Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.

TX HB32

Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.

TX HB2467

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX HB2656

Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amount, and the protection of school districts against the resulting loss in local revenue.

TX SB1

Relating to a reduction in the maximum compressed tax rate of a school district and additional state aid for certain school districts impacted by compression, an increase in the amount of certain exemptions from ad valorem taxation by a school district applicable to residence homesteads, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amounts, and the protection of school districts against the resulting loss in local revenue.

TX HB2666

Relating to the limitation on the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 20 consecutive tax years.

Similar Bills

TX HB1104

Relating to the phasing out of ad valorem taxes on the residence homesteads of elderly persons by 2021.

TX HB157

Relating to the ad valorem taxation of residential real property.

TX HB132

Relating to the ad valorem taxation of residential real property.

TX HB1648

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

TX HB1566

Relating to the ad valorem taxation of residential real property.

TX HB69

Relating to a limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on the residence homestead of an eligible person who is a member of a reserve component of the United States armed forces and is ordered to active military duty.

TX HB4478

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

TX HB3920

Relating to a limitation on the total amount of ad valorem taxes that may be imposed by a taxing unit on the residence homestead of a lower-income individual that is located in a homestead preservation district.