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House Bill 3613 |
House Author: Otto et al. |
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Effective: See below |
Senate Sponsor: Williams et al. |
House Bill 3613 amends provisions of the Tax Code relating to the property tax to require the market value of a residence homestead to be determined solely on the basis of the property's value as a residence homestead, regardless of whether the residential use by the owner is considered to be the highest and best use of the property. The statutory change imposing the requirement takes effect contingent on voter approval of the constitutional amendment on the subject proposed by House Joint Resolution 36. If voters approve that amendment, the statutory change takes effect January 1, 2010.
House Bill 3613 amends Tax Code provisions that allow a Texas-resident disabled veteran to designate a property the veteran owns and receive a property tax exemption on the property, the amount of which depends on the veteran's disability rating. It revises the disability rating schedule to increase the exemption for a veteran with certain disability ratings. For purposes of the separate residential homestead exemption, however, the bill entitles a disabled veteran who has a disability rating of 100 percent, and who receives 100 percent disability compensation due to a service-connected disability, to an exemption of the total appraised value of the residence homestead. Such an exemption, once allowed, need not be claimed in subsequent years and applies until the property changes ownership or the veteran's qualification for the exemption changes, although the chief appraiser may require a veteran to file a new exemption application to confirm such qualification. The bill amends the Government Code to remove residence homesteads owned by veterans with disability ratings of 100 percent from being included as taxable property in the comptroller of public accounts' annual determination of school district property values. Except as otherwise provided, the bill takes effect June 19, 2009.