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.
Impact
The impact of HJR199, if approved, would result in appeals from constituents looking for potential tax relief. As the tax exemption limit for the elderly and disabled is raised, it could lead to decreased revenue for school districts that rely on ad valorem taxes for funding. The bill includes provisions for the legislature to create formulas to mitigate any revenue losses for these districts caused by the exemption increase, ensuring that essential educational funding remains relatively stable.
Summary
HJR199 proposes a constitutional amendment that would allow the Texas legislature to increase the amount of the exemption from ad valorem taxation on the market value of the residence homestead for elderly or disabled individuals. Currently, under Texas law, there is a base exemption of $40,000 for all individuals which can be increased by the legislature. The proposed changes intend to provide additional financial relief to those within these vulnerable groups by potentially raising the exemption limit more significantly, thereby reducing the property tax burden on them.
Sentiment
Overall sentiment around HJR199 tends to be supportive particularly among advocates for the elderly and disabled, who view it as a necessary step towards providing further assistance to those in need. However, there are concerns among some lawmakers and local governments about the potential fiscal implications, particularly regarding the adequacy of funding for public education if property revenues decline significantly as a result of increased exemptions.
Contention
One notable point of contention surrounding HJR199 is the balance between providing necessary tax relief for the elderly and disabled while maintaining adequate funding for public education. Critics may argue that increased exemptions could lead to a financial strain on school districts, thus pitting the needs of vulnerable populations against educational funding priorities. Stakeholders will likely continue discussions on how to best implement such tax measures without compromising critical public services.
Enabled by
Relating to the amount of the exemption from ad valorem taxation by a school district of the appraised value of the residence homestead of a person who is elderly or disabled.
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.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district and to reduce the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount.
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.
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.