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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the governing body of a taxing unit |
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that adopts an exemption from ad valorem taxation of a percentage of |
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the appraised value of an individual's residence homestead to set |
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the minimum dollar amount of the exemption to which an individual is |
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entitled in a tax year. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.13(n), Tax Code, is amended to read as |
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follows: |
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(n) In addition to any other exemptions provided by this |
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section, an individual is entitled to an exemption from taxation by |
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a taxing unit of a percentage of the appraised value of the |
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individual's [his] residence homestead if the exemption is adopted |
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by the governing body of the taxing unit before July 1 in the manner |
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provided by law for official action by the body. If the percentage |
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set by the taxing unit produces an exemption in a tax year of less |
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than $5,000, or of a greater dollar amount not to exceed $25,000 |
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adopted by the governing body before July 1 of that tax year in the |
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manner provided by law for official action by the body, when applied |
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to a particular residence homestead, the individual is entitled to |
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an exemption of $5,000 or, if applicable, of the greater dollar |
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amount adopted by the governing body, of the appraised value. The |
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percentage adopted by the taxing unit may not exceed 20 percent. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2020, but only |
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if the constitutional amendment proposed by the 86th Legislature, |
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Regular Session, 2019, authorizing the governing body of a |
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political subdivision that adopts an exemption from ad valorem |
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taxation of a percentage of the market value of an individual's |
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residence homestead to set the minimum dollar amount of the |
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exemption to which an individual is entitled in a tax year is |
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approved by the voters. If that amendment is not approved by the |
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voters, this Act has no effect. |