By: Middleton H.B. No. 300
A BILL TO BE ENTITLED
AN ACT
relating to the maximum amount of the local option residence
homestead exemption from ad valorem taxation by a taxing unit.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 11.13(n), Tax Code, is amended to read as
follows:
(n) In addition to any other exemptions provided by this
section, an individual is entitled to an exemption from taxation by
a taxing unit of a percentage of the appraised value of the
individual's [his] residence homestead if the exemption is adopted
by the governing body of the taxing unit before July 1 in the manner
provided by law for official action by the body. If the percentage
set by the taxing unit produces an exemption in a tax year of less
than $5,000 when applied to a particular residence homestead, the
individual is entitled to an exemption of $5,000 of the appraised
value. The percentage adopted by the taxing unit may not exceed 100
[20] percent.
SECTION 2. This Act applies only to ad valorem taxes imposed
for a tax year that begins on or after the effective date of this
Act.
SECTION 3. This Act takes effect January 1, 2022, but only
if the constitutional amendment proposed by the 87th Legislature,
1st Called Session, 2021, to increase the maximum amount of the
local option residence homestead exemption from ad valorem taxation
by a political subdivision is approved by the voters. If that
amendment is not approved by the voters, this Act has no effect.