LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 24, 2021 TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR83 by Allison (Proposing a constitutional amendment authorizing a local option exemption from ad valorem taxation of all or part of the appraised value of the residence homesteads of certain peace officers.), As Introduced Passage of the resolution and voter approval of the amendment would permit the governing body of a political subdivision to exempt from property taxation all or part of the appraised value of the residence homestead of an eligible peace officer who resides in a high-need area. As a result, taxable property values could be reduced and the related costs to the Foundation School Fund could be increased through the operation of the school finance formulas.The cost to the state for publication of the resolution is $178,333. The resolution would propose an amendment to Article VIII of the Texas Constitution to permit the governing body of a political subdivision to exempt from property taxation all or part of the appraised value of the residence homestead of an eligible peace officer who resides in a high-need area.The proposed constitutional amendment, if approved by the voters, would create a cost to local taxing units that adopt the proposed total residence homestead exemption and to the state through the school finance formulas. The number of taxing units that would adopt the exemption and amount and value of properties that would be designated as high-need areas, is unknown; consequently, the cost of the bill cannot be estimated. The cost to the state for publication of the resolution is $178,333.The proposed amendment would be submitted to voters at an election to be held November 2, 2021 and, if adopted by the voters, would take effect January 1, 2022. Local Government ImpactThe proposed constitutional amendment, if approved by the voters, would create a cost to local taxing units that adopt the proposed total residence homestead exemption. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, KK, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 24, 2021
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR83 by Allison (Proposing a constitutional amendment authorizing a local option exemption from ad valorem taxation of all or part of the appraised value of the residence homesteads of certain peace officers.), As Introduced
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HJR83 by Allison (Proposing a constitutional amendment authorizing a local option exemption from ad valorem taxation of all or part of the appraised value of the residence homesteads of certain peace officers.), As Introduced
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HJR83 by Allison (Proposing a constitutional amendment authorizing a local option exemption from ad valorem taxation of all or part of the appraised value of the residence homesteads of certain peace officers.), As Introduced
HJR83 by Allison (Proposing a constitutional amendment authorizing a local option exemption from ad valorem taxation of all or part of the appraised value of the residence homesteads of certain peace officers.), As Introduced
Passage of the resolution and voter approval of the amendment would permit the governing body of a political subdivision to exempt from property taxation all or part of the appraised value of the residence homestead of an eligible peace officer who resides in a high-need area. As a result, taxable property values could be reduced and the related costs to the Foundation School Fund could be increased through the operation of the school finance formulas.The cost to the state for publication of the resolution is $178,333.
Passage of the resolution and voter approval of the amendment would permit the governing body of a political subdivision to exempt from property taxation all or part of the appraised value of the residence homestead of an eligible peace officer who resides in a high-need area. As a result, taxable property values could be reduced and the related costs to the Foundation School Fund could be increased through the operation of the school finance formulas.The cost to the state for publication of the resolution is $178,333.
The cost to the state for publication of the resolution is $178,333.
The resolution would propose an amendment to Article VIII of the Texas Constitution to permit the governing body of a political subdivision to exempt from property taxation all or part of the appraised value of the residence homestead of an eligible peace officer who resides in a high-need area.The proposed constitutional amendment, if approved by the voters, would create a cost to local taxing units that adopt the proposed total residence homestead exemption and to the state through the school finance formulas. The number of taxing units that would adopt the exemption and amount and value of properties that would be designated as high-need areas, is unknown; consequently, the cost of the bill cannot be estimated. The cost to the state for publication of the resolution is $178,333.The proposed amendment would be submitted to voters at an election to be held November 2, 2021 and, if adopted by the voters, would take effect January 1, 2022.
The proposed amendment would be submitted to voters at an election to be held November 2, 2021 and, if adopted by the voters, would take effect January 1, 2022.
Local Government Impact
The proposed constitutional amendment, if approved by the voters, would create a cost to local taxing units that adopt the proposed total residence homestead exemption.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, KK, SD, BRI
JMc, KK, SD, BRI