LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION May 15, 2023 TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4077 by Noble (Relating to the procedure for qualifying for an exemption from ad valorem taxation of the residence homestead of an elderly person.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend Chapter 11 of the Tax Code, relating to Taxable Property and Exemptions, to clarify that an individual aged 64 and receiving an exemption on their residence homestead is eligible for the following tax year, and the chief appraiser must allow, for certain additional tax exemptions applicable to individuals 65 and older. The exemptions would apply to the same property and without having to apply or otherwise request it, provided the individual's information on file supports granting the exemption. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, AF, KK, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
May 15, 2023
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4077 by Noble (Relating to the procedure for qualifying for an exemption from ad valorem taxation of the residence homestead of an elderly person.), As Engrossed
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB4077 by Noble (Relating to the procedure for qualifying for an exemption from ad valorem taxation of the residence homestead of an elderly person.), As Engrossed
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB4077 by Noble (Relating to the procedure for qualifying for an exemption from ad valorem taxation of the residence homestead of an elderly person.), As Engrossed
HB4077 by Noble (Relating to the procedure for qualifying for an exemption from ad valorem taxation of the residence homestead of an elderly person.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 11 of the Tax Code, relating to Taxable Property and Exemptions, to clarify that an individual aged 64 and receiving an exemption on their residence homestead is eligible for the following tax year, and the chief appraiser must allow, for certain additional tax exemptions applicable to individuals 65 and older. The exemptions would apply to the same property and without having to apply or otherwise request it, provided the individual's information on file supports granting the exemption.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, AF, KK, SD, BRI
JMc, AF, KK, SD, BRI