Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Impact
The proposed bill would directly amend the Texas Tax Code, particularly concerning the tax obligations of partially disabled veterans and their families. By formalizing the tax exemption, HB297 aims to alleviate the financial burdens faced by these individuals who often have additional healthcare and living costs. This measure could significantly impact state revenue collections, as it increases the number of homeowners eligible for property tax reductions, leading to a decrease in funds available for local services dependent on property tax revenue.
Summary
House Bill 297 proposes an exemption from ad valorem taxation for the residence homestead of partially disabled veterans and their surviving spouses, contingent upon the veteran's disability rating. Specifically, veterans with a disability rating of at least 10% but less than 100% will qualify for a percentage exemption corresponding to their rating. In the case of a deceased veteran, the surviving spouse can continue to benefit from this tax exemption as long as they have not remarried and have maintained the property as their primary residence. This legislative proposal seeks to provide continued financial relief to our veterans and their families in recognition of their service.
Contention
Discussions surrounding HB297 may bring attention to the fairness and implications of expanding property tax exemptions for particular demographics, such as veterans. While proponents argue this bill honors the sacrifices made by veterans, critics may raise concerns about the impact on local funding and the fairness of tax exemptions that potentially favor specific groups over others. The necessity of weighing veterans' rights against broader community implications may be a point of contention as the bill progresses through the legislative process.
Texas Constitutional Statutes Affected
Tax Code
Chapter 11. Taxable Property And Exemptions
Section: New Section
Chapter 26. Assessment
Section: 1127
Chapter 31. Collections
Section: 031
Local Government Code
Chapter 140. Miscellaneous Financial Provisions Affecting Municipalities, Counties, And Other Local Governments
Enabling for
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to an exemption from ad valorem taxation of the residence homestead of the surviving spouse of a veteran who died as a result of a qualifying condition or disease.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain disabled first responders 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.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
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.
Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.
Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.
Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.
Proposes constitutional amendment permitting certain veterans and their surviving spouses to receive enhanced homestead rebate amounts similar to the homestead rebate amounts allowed for senior and disabled residents.