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A BILL TO BE ENTITLED
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AN ACT
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relating to the maximum amount of the local option residence |
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homestead exemption from ad valorem taxation by a taxing unit. |
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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 when applied to a particular residence homestead, the |
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individual is entitled to an exemption of $5,000 of the appraised |
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value. The percentage adopted by the taxing unit may not exceed 100 |
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[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, 2022, but only |
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if the constitutional amendment proposed by the 87th Legislature, |
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Regular Session, 2021, to increase the maximum amount of the local |
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option residence homestead exemption from ad valorem taxation by a |
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political subdivision is approved by the voters. If that amendment |
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is not approved by the voters, this Act has no effect. |