Texas House Bill HJR137

Texas 2019 - 86th Regular

Caption

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.

Impact

The proposed changes outlined in HJR137 are anticipated to offer substantial property tax relief specifically targeting elderly and disabled individuals. By raising the exemption limit for homesteads, the bill aims to lighten the tax burden on these vulnerable populations, ensuring they retain greater portions of their income and assets as they age or manage disabilities. Furthermore, these amendments may influence the financing capabilities of school districts, as decreased revenue from taxation might necessitate adjustments in educational budgets or alternative funding methods.

Summary

HJR137 is a joint resolution proposing a constitutional amendment to increase the exemption amount of residence homesteads from ad valorem taxation imposed by school districts. The amendment seeks to elevate the exemption from $25,000 to $50,000 for the general market value of homesteads owned by individuals. Additionally, it proposes to reduce the limitation on ad valorem taxes levied on the homesteads of elderly or disabled residents, reflecting the newly increased exemption amount. This alteration signifies a notable shift in the financial responsibilities of school districts towards eligible homeowners.

Contention

As with many tax-related legislative changes, HJR137 has sparked discussions regarding the balance of property tax revenue in funding public education. Proponents of the bill argue that it advances the interests of seniors and individuals with disabilities who often find themselves economically challenged. Conversely, opponents raise concerns about the potential loss of funds for school districts that may impact the quality of education and resources available to all students. This creates a contentious environment where equity in educational funding is weighed against the need for targeted financial relief.