| 1 | 1 | | By: Middleton H.B. No. 81 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the maximum amount of the local option residence |
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| 7 | 7 | | homestead exemption from ad valorem taxation by a taxing unit. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Section 11.13(n), Tax Code, is amended to read as |
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| 10 | 10 | | follows: |
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| 11 | 11 | | (n) In addition to any other exemptions provided by this |
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| 12 | 12 | | section, an individual is entitled to an exemption from taxation by |
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| 13 | 13 | | a taxing unit of a percentage of the appraised value of the |
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| 14 | 14 | | individual's [his] residence homestead if the exemption is adopted |
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| 15 | 15 | | by the governing body of the taxing unit before July 1 in the manner |
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| 16 | 16 | | provided by law for official action by the body. If the percentage |
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| 17 | 17 | | set by the taxing unit produces an exemption in a tax year of less |
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| 18 | 18 | | than $5,000 when applied to a particular residence homestead, the |
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| 19 | 19 | | individual is entitled to an exemption of $5,000 of the appraised |
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| 20 | 20 | | value. The percentage adopted by the taxing unit may not exceed 100 |
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| 21 | 21 | | [20] percent. |
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| 22 | 22 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
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| 23 | 23 | | for a tax year that begins on or after the effective date of this |
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| 24 | 24 | | Act. |
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| 25 | 25 | | SECTION 3. This Act takes effect January 1, 2023, but only |
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| 26 | 26 | | if the constitutional amendment proposed by the 87th Legislature, |
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| 27 | 27 | | 3rd Called Session, 2021, to increase the maximum amount of the |
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| 28 | 28 | | local option residence homestead exemption from ad valorem taxation |
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| 29 | 29 | | by a political subdivision is approved by the voters. If that |
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| 30 | 30 | | amendment is not approved by the voters, this Act has no effect. |
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