LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION April 16, 2023 TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4478 by Button (Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 11 of the Tax Code, relating to Taxable Property and Exemptions, to establish a limitation on the total amount of property taxes a county may impose on the residence homesteads of individuals who are disabled or 65 years of age or older and their surviving spouses. The bill would provide criteria and requirements.The bill would amend Section 11.261 to remove the word county(ies) from the section and make conforming changes.Because the associated constitutional amendment (HJR 171) is self-enabling, the cost of the bill's requirement that all county taxing units grant the tax ceiling is shown in the fiscal note for associated resolution.The bill would take effect January 1, 2024, contingent on the approval by voters of a constitutional amendment (HJR171). Local Government ImpactBecause the associated constitutional amendment (HJR 171) is self-enabling, the cost of the bill's requirement that all county taxing units grant the tax ceiling is shown in the fiscal note for the associated resolution. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, KK, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
April 16, 2023
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB4478 by Button (Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.), As Introduced
TO: Honorable Morgan Meyer, Chair, House Committee on Ways & Means
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB4478 by Button (Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.), As Introduced
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Honorable Morgan Meyer, Chair, House Committee on Ways & Means
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB4478 by Button (Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.), As Introduced
HB4478 by Button (Relating to the establishment of a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 11 of the Tax Code, relating to Taxable Property and Exemptions, to establish a limitation on the total amount of property taxes a county may impose on the residence homesteads of individuals who are disabled or 65 years of age or older and their surviving spouses. The bill would provide criteria and requirements.The bill would amend Section 11.261 to remove the word county(ies) from the section and make conforming changes.Because the associated constitutional amendment (HJR 171) is self-enabling, the cost of the bill's requirement that all county taxing units grant the tax ceiling is shown in the fiscal note for associated resolution.The bill would take effect January 1, 2024, contingent on the approval by voters of a constitutional amendment (HJR171).
Local Government Impact
Because the associated constitutional amendment (HJR 171) is self-enabling, the cost of the bill's requirement that all county taxing units grant the tax ceiling is shown in the fiscal note for the associated resolution.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, KK, SD, BRI
JMc, KK, SD, BRI