TX
Texas Senate Bill SB2631

Texas 2025 - 89th Regular

Texas Senate Bill SB2631

Voted on by Senate
 
Out of House Committee
 
Voted on by House
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the deferment of property taxes for certain individuals and the reduction of the eligible age for tax deferral.

Impact

If enacted, SB2631 would amend Section 33.06(a) of the Texas Tax Code, thereby potentially increasing the number of individuals eligible for property tax deferral. Lowering the age requirement may help a larger segment of older adults manage their financial responsibilities, particularly those on fixed incomes who rely on their homes as a primary asset. This change is likely to be welcomed by many, as it provides increased access to tax relief for those who may struggle to pay property taxes as they age.

Summary

Senate Bill 2631 is focused on the deferment of property taxes specifically for certain individuals, marking a significant change in the eligibility criteria for this tax relief. The bill proposes to lower the eligible age for tax deferral from 65 to 60 years. This legislation aims to provide financial relief to those who own and occupy their residence homesteads. The bill outlines that individuals who are either 60 years or older, disabled, or qualified for an exemption can defer property tax collection, thereby reducing the financial burden on these vulnerable groups.

Contention

Notable points of contention around SB2631 may center on the implications of such a reduction in eligibility age for state and local revenue collections. Critics might argue that changing the age limit could strain public finances, particularly for local governments that rely on property tax revenues for essential services. Supporters, however, would counter that the long-term benefits of supporting the financial stability of older residents outweigh any immediate fiscal concerns. The conversation surrounding this bill may delve into balancing the fiscal integrity of local governments with the need to support vulnerable populations in society.

Texas Constitutional Statutes Affected

Tax Code

  • Chapter 33. Delinquency
    • Section: 06

Companion Bills

No companion bills found.

Previously Filed As

TX HB740

Relating to the deferral or abatement of the collection of ad valorem taxes on an appreciating residence homestead.

TX HB4429

Relating to the duty of a school district to enter into an ad valorem tax abatement agreement under the Property Redevelopment and Tax Abatement Act for certain property.

TX HB721

Relating to the rate at which interest accrues in connection with the deferral or abatement of the collection of ad valorem taxes on certain residence homesteads.

TX HB69

Relating to the determination and reporting of the number of residence homesteads of elderly or disabled persons that are subject to the limitation on the total amount of ad valorem taxes that may be imposed on the properties by school districts and of the number of residence homesteads of certain property owners for which the owner deferred collection of a tax, abated a suit to collect a delinquent tax, or abated a sale to foreclose a tax lien.

TX HB156

Relating to the determination and reporting of the number of residence homesteads of elderly or disabled persons that are subject to the limitation on the total amount of ad valorem taxes that may be imposed on the properties by school districts, or who utilize the property tax deferral program in section 33.06, Tax Code.

TX HB38

Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.

TX HB2047

Relating to the expansion of eligibility for Medicaid to certain individuals who are younger than 26 years of age.

TX HB2666

Relating to the limitation on the total amount of ad valorem taxes that a school district 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 20 consecutive tax years.

TX HB1055

Relating to the eligibility for unemployment benefits of individuals who are unemployed due to certain labor disputes.

TX SB3

Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration.

Similar Bills

No similar bills found.