LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION February 10, 2025 TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SJR2 by Bettencourt (Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district.), As Introduced The approval of the proposed amendment by the voters would, in and of itself, result in a reduction of school district property tax revenue and a partial reimbursement of that lost revenue by the state. Although the resolution is self-enabling, the fiscal impact is shown in the fiscal note for SB 4.The cost to the state for publication of the resolution is $191,689. The resolution would propose an amendment to Article VIII of the Texas Constitution to increase the residence homestead exemption from school district property taxation from $100,000 to $140,000.The proposed amendment would be submitted to voters at an election to be held November 4, 2025, and would be effective for the tax year beginning January 1, 2025, if passed. Local Government ImpactThe fiscal impact to school districts is shown in the fiscal note for SB 4. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, SZ, SD, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
February 10, 2025
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SJR2 by Bettencourt (Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district.), As Introduced
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SJR2 by Bettencourt (Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district.), As Introduced
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SJR2 by Bettencourt (Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district.), As Introduced
SJR2 by Bettencourt (Proposing a constitutional amendment to increase the amount of the exemption of residence homesteads from ad valorem taxation by a school district.), As Introduced
The approval of the proposed amendment by the voters would, in and of itself, result in a reduction of school district property tax revenue and a partial reimbursement of that lost revenue by the state. Although the resolution is self-enabling, the fiscal impact is shown in the fiscal note for SB 4.The cost to the state for publication of the resolution is $191,689.
The approval of the proposed amendment by the voters would, in and of itself, result in a reduction of school district property tax revenue and a partial reimbursement of that lost revenue by the state. Although the resolution is self-enabling, the fiscal impact is shown in the fiscal note for SB 4.The cost to the state for publication of the resolution is $191,689.
The approval of the proposed amendment by the voters would, in and of itself, result in a reduction of school district property tax revenue and a partial reimbursement of that lost revenue by the state. Although the resolution is self-enabling, the fiscal impact is shown in the fiscal note for SB 4.
The resolution would propose an amendment to Article VIII of the Texas Constitution to increase the residence homestead exemption from school district property taxation from $100,000 to $140,000.The proposed amendment would be submitted to voters at an election to be held November 4, 2025, and would be effective for the tax year beginning January 1, 2025, if passed.
Local Government Impact
The fiscal impact to school districts is shown in the fiscal note for SB 4.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, SZ, SD, BRI
JMc, SZ, SD, BRI