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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of a person who acquires a residence |
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homestead to receive an ad valorem tax exemption for the homestead |
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in the year in which the property is acquired. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.42(d), Tax Code, is amended to read as |
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follows: |
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(d) A person who acquires property after January 1 of a tax |
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year may receive an exemption authorized by Section 11.13, other |
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than an exemption authorized by Section 11.13(c) or (d), 11.17, |
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11.18, 11.19, 11.20, 11.21, 11.23, 11.231, or 11.30 for the |
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applicable portion of that tax year immediately on qualification |
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for the exemption. |
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SECTION 2. Chapter 26, Tax Code, is amended by adding |
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Section 26.1115 to read as follows: |
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Sec. 26.1115. CALCULATION OF TAXES ON RESIDENCE HOMESTEAD |
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GENERALLY. (a) If an individual receives one or more exemptions |
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under Section 11.13 for a portion of a tax year as provided by |
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Section 11.42(d), except as provided by Subsection (b) of this |
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section, the amount of tax due on the property for that year is |
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calculated by: |
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(1) subtracting: |
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(A) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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qualified for the exemptions for the entire year; from |
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(B) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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not qualified for the exemptions during the year; |
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(2) multiplying the remainder determined under |
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Subdivision (1) by a fraction, the denominator of which is 365 and |
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the numerator of which is the number of days in that year that |
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elapsed before the date the individual first qualified the property |
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for the exemptions; and |
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(3) adding the product determined under Subdivision |
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(2) and the amount described by Subdivision (1)(A). |
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(b) If an individual receives one or more exemptions to |
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which Subsection (a) of this section applies for a portion of a tax |
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year as provided by Section 11.42(d) and the exemptions terminate |
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during the year in which the individual acquired the property, the |
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amount of tax due on the property for that year is calculated by: |
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(1) subtracting: |
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(A) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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qualified for the exemptions for the entire year; from |
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(B) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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not qualified for the exemptions during the year; |
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(2) multiplying the remainder determined under |
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Subdivision (1) by a fraction, the denominator of which is 365 and |
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the numerator of which is the sum of: |
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(A) the number of days in that year that elapsed |
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before the date the individual first qualified the property for the |
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exemptions; and |
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(B) the number of days in that year that elapsed |
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after the date the exemptions terminated; and |
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(3) adding the product determined under Subdivision |
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(2) and the amount described by Subdivision (1)(A). |
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(c) If an individual qualifies to receive an exemption as |
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described by Subsection (a) with respect to a property after the |
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amount of tax due on the property is calculated and if the effect of |
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the qualification is to reduce the amount of tax due on the |
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property, the assessor for each taxing unit shall recalculate the |
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amount of the tax due on the property and correct the tax roll. If |
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the tax bill has been mailed and the tax on the property has not been |
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paid, the assessor shall mail a corrected tax bill to the individual |
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in whose name the property is listed on the tax roll or to the |
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individual's authorized agent. If the tax on the property has been |
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paid, the collector for the taxing unit shall refund to the |
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individual who paid the tax the amount by which the payment exceeded |
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the tax due. |
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SECTION 3. This Act applies only to a residence homestead |
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acquired on or after the effective date of this Act. |
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SECTION 4. This Act takes effect January 1, 2022. |