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A BILL TO BE ENTITLED
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AN ACT
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relating to notice of eligibility for a residence homestead ad |
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valorem tax exemption. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 25.192(b), Tax Code, is amended to read |
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as follows: |
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(b) If the records of the appraisal district indicate that |
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the address of the property is also the address of the owner of the |
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property, the chief appraiser must send to the property owner a |
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notice that contains: |
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(1) the following statement in English and Spanish in |
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boldfaced 18-point type at the top of the first page of the notice: |
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"NOTICE: A residence homestead exemption from ad valorem taxation |
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is NOT currently being allowed on the property listed below. |
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However, our records show that this property may qualify for a |
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residence homestead exemption, which will reduce your taxes."; |
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(2) following the statement described by Subdivision |
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(1), the following statement in English and Spanish in 12-point |
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type: "According to the records of the appraisal district, the |
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property described in this notice may be your primary residence and |
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may qualify for a residence homestead exemption from ad valorem |
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taxation. If the property is your home and you occupy it as your |
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primary residence, the property likely qualifies for one or more |
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residence homestead exemptions, including an exemption from |
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taxation by a school district of $(insert the amount of the |
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exemption provided by Section 11.13(b)) of the appraised value of |
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the property, which will reduce the amount of taxes imposed on the |
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property. The form needed to apply for a residence homestead |
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exemption is enclosed. Although the form may state that the |
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deadline for filing an application for a residence homestead |
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exemption is April 30, a late application for a residence homestead |
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exemption will be accepted if filed before February 1, (insert year |
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application must be filed). There is no fee or charge for filing an |
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application or a late application for a residence homestead |
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exemption. If you have questions or would like more information, |
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please call (insert appraisal district telephone number) or e-mail |
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(insert appraisal district e-mail address)."; and |
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(3) following the statement described by Subdivision |
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(2), the address to which the notice is sent. |
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SECTION 2. Chapter 2702, Insurance Code, is amended by |
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adding Subchapter D to read as follows: |
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SUBCHAPTER D. OTHER CLOSING SERVICES |
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Sec. 2702.151. DEFINITION. In this subchapter, "residence |
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homestead" has the meaning assigned by Section 11.13, Tax Code. |
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Sec. 2702.152. APPLICABILITY. This subchapter does not |
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apply to the closing or settlement of a real property transaction if |
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the closing or settlement is not actually handled by: |
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(1) a title insurance company, a title insurance |
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agent, or an attorney for a title insurance company or title |
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insurance agent; or |
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(2) a representative of a title insurance company, a |
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title insurance agent, or an attorney for a title insurance company |
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or title insurance agent. |
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Sec. 2702.153. NOTICE OF ELIGIBILITY FOR RESIDENCE |
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HOMESTEAD EXEMPTION. In connection with the closing and settlement |
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of a real property transaction relating to residential real |
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property in this state, a title insurance company or title |
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insurance agent shall provide to the buyer: |
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(1) a notice in English and Spanish that contains the |
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following statement: "If you occupy this property as your primary |
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residence, the property will likely qualify for one or more |
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residence homestead exemptions from ad valorem taxation, including |
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an exemption from taxation by a school district of $(insert the |
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amount of the exemption provided by Section 11.13(b), Tax Code) of |
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the appraised value of the property, which will reduce the amount of |
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taxes imposed on the property. The form needed to apply for a |
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residence homestead exemption is enclosed. Although the form may |
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state that the deadline for filing an application for a residence |
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homestead exemption is April 30, a late application for a residence |
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homestead exemption will be accepted if filed before February 1, |
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(insert year application must be filed). There is no fee or charge |
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for filing an application or a late application for a residence |
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homestead exemption. If you have questions or would like more |
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information, please call (insert appraisal district telephone |
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number) or e-mail (insert appraisal district e-mail address)."; and |
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(2) an application form for an exemption under Section |
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11.13, Tax Code. |
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SECTION 3. The change in law made by this Act to Section |
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25.192, Tax Code, applies only to a tax year that begins on or after |
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the effective date of this Act. |
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SECTION 4. This Act takes effect on the 91st day after the |
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last day of the legislative session. |