Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Impact
The implementation of HB 207 will directly modify the existing tax code related to property tax exemptions, particularly for elderly individuals. As it expands the scope of eligibility for homeowners, there will likely be a noticeable impact on local government revenues that rely on property taxes. This change could lead to financial adjustments at the municipal level, potentially resulting in budgetary reallocations or cuts in services. The overarching goal, however, is to enhance the quality of life for closely defined groups, ensuring they have a secure environment in which to live.
Summary
House Bill 207 aims to provide exemptions from ad valorem taxation for the total appraised value of residence homesteads belonging to certain elderly persons and their surviving spouses. The bill seeks to alleviate the financial burdens faced by senior citizens, allowing them to retain more of their income and to stay in their homes longer. This is particularly vital for elderly individuals on fixed incomes, who may struggle with increasing property taxes. By shielding specific demographics from higher taxes, the legislation attempts to promote stability and support among vulnerable populations.
Sentiment
The sentiment surrounding HB 207 appears to be largely positive among supporters, who recognize the importance of assisting senior citizens amid rising costs of living. Advocacy groups and community members have lauded the bill as a compassionate measure that acknowledges the hardships experienced by older adults. Conversely, there are some concerns regarding the financial implications for local governance, with detractors suggesting that there should be a balance between aiding the elderly and ensuring stable revenue flows for public services.
Contention
Notable points of contention include the potential strain on local government budgets if a significant number of elderly residents receive these tax exemptions. Critics argue that while the rationale for supporting vulnerable populations is undeniable, accountability measures should be incorporated to ensure sustainability of revenues for local services. Additionally, discussions have emerged regarding the adequacy of outreach efforts to ensure eligible residents are aware of the exemption process, highlighting the necessity of educating and assisting those who may benefit from the provisions outlined in HB 207.
Texas Constitutional Statutes Affected
Tax Code
Chapter 11. Taxable Property And Exemptions
Section: 13
Section: 42
Section: 43
Chapter 26. Assessment
Section: 10
Section: 112
Chapter 33. Delinquency
Section: 01
Education Code
Chapter 46. Assistance With Instructional Facilities And Payment Of Existing Debt
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to an exemption from ad valorem taxation of a portion of the appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.
Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.
Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to the eligibility of the surviving spouse of an elderly person who qualified for a local option exemption from ad valorem taxation by a taxing unit of a portion of the appraised value of the deceased person's residence homestead to continue to receive an exemption for the same property from the same taxing unit in an amount equal to that of the exemption for which the deceased person qualified without applying for the exemption.
Relating to the eligibility of the surviving spouse of an elderly person who qualified for a local option exemption from ad valorem taxation by a taxing unit of a portion of the appraised value of the deceased person's residence homestead to continue to receive an exemption for the same property from the same taxing unit in an amount equal to that of the exemption for which the deceased person qualified without applying for the exemption.
Relating to the exemption from ad valorem taxation of the total appraised value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.
Relating to the authority of a taxing unit other than a school district, county, municipality, or junior college district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of certain low-income individuals who are disabled or elderly and their surviving spouses.
Relating to the authority of a taxing unit other than a school district, county, municipality, or junior college district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses and to the information required to be included in a tax bill.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain elderly persons and their surviving spouses.