Proposing a constitutional amendment establishing a limitation on the total amount of ad valorem taxes that political subdivisions may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
If passed, HJR84 would have notable implications for state tax laws. It would serve to protect vulnerable populations including the elderly and disabled from rising property taxes, providing them with stability in their tax obligations. The proposed change aims to shield these homeowners from potential price increases relating to their property values, promoting greater financial security for individuals living on fixed incomes. The amendment would take effect starting January 1, 2022, applying specifically to taxes imposed for the 2022 tax year and later.
HJR84 is a joint resolution proposing a constitutional amendment that aims to establish a limitation on the total amount of ad valorem taxes that political subdivisions can impose on the residence homesteads of individuals who are disabled, elderly, or their surviving spouses. The bill proposes an amendment to Section 1-b(d) of Article VIII of the Texas Constitution, ensuring that the taxes levied on qualifying homesteads remain constant while they are owned by those who receive the exemption. Additionally, it outlines conditions regarding the potential increase of these taxes due to property improvements beyond basic repairs required by government mandates.
Notable points of contention could arise regarding the bill's implementation. Advocates for the amendment argue the necessity of financial protections for disabled individuals and the elderly, particularly those facing economic challenges. However, there may be concerns from local governments regarding how these limitations could affect their revenue capabilities. The repeal of certain existing provisions, as indicated in the bill, might lead to disagreements over the balance between local taxation authority and the financial needs of vulnerable populations. As the bill is prepared for voter submission in the November 2021 election, debates may intensify around its long-term viability and impacts.