Texas 2021 - 87th 3rd C.S.

Texas House Bill HJR7

Caption

Proposing a constitutional amendment to increase the maximum amount of the local option residence homestead exemption from ad valorem taxation by a political subdivision.

Impact

The proposed amendment is intended to reduce the financial burden of property taxes on homeowners within political subdivisions that adopt this exemption. If enacted, it would empower local governments to extend significant tax relief, which could lead to increased home ownership rates and potentially stimulate local economies. Additionally, the constitutional amendment mandates that local entities may not reduce or repeal the exemption once established, ensuring that property tax relief remains stable for constituents.

Summary

HJR7 proposes a constitutional amendment aimed at increasing the maximum local option residence homestead exemption from ad valorem taxation by a political subdivision from the current limit of 20 percent to a potential maximum of 100 percent. This amendment allows governing bodies of political subdivisions to exempt a percentage of the market value of residence homesteads for adults, aligning with the intention of providing greater property tax relief to homeowners. The alternative may include a minimum exemption provision that cannot be less than $5,000 unless dictated otherwise by legislative action.

Contention

The approach and implications of HJR7 have the potential for contention among various stakeholders. Supporters argue that increasing the exemption cap supports homeownership and alleviates tax burdens significantly, especially for low to moderate-income families. Conversely, opponents might raise concerns about the implications for local tax revenues, suggesting that such an exemption may pose challenges to funding local government services that rely on property tax income. The balance between property tax relief and sufficient funding for public services could be a significant point of debate during discussions surrounding this proposed amendment.

Companion Bills

TX HB81

Enabled by Relating to the maximum amount of the local option residence homestead exemption from ad valorem taxation by a taxing unit.

Previously Filed As

TX HJR43

Proposing a constitutional amendment to provide for an exemption from ad valorem taxation by certain political subdivisions of a portion of the market value of the residence homestead of the parent or guardian of a person who is disabled and who resides with the parent or guardian.

TX HJR115

Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amount.

TX HJR122

TX SJR3

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes, to increase the amount of an exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.

TX HJR199

Proposing a constitutional amendment authorizing the legislature to increase the amount of the exemption from ad valorem taxation by a school district of the market value of the residence homestead of a person who is elderly or disabled.

TX SJR1

Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.

TX SJR2

TX HJR2

Proposing a constitutional amendment to authorize the legislature to establish a temporary limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes; to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads; to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts; to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations; and to authorize the legislature to provide for a four-year term of office for a member of the governing body of certain appraisal entities.

TX SJR20

Proposing a constitutional amendment authorizing the governing body of a political subdivision to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the market value of an individual's residence homestead.

TX SJR31

Proposing a constitutional amendment authorizing the governing body of a political subdivision other than a school district to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the market value of an individual's residence homestead.

Similar Bills

No similar bills found.