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Senate Bill 1047 |
Senate Author: Creighton et al. |
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Effective: 1-1-18 |
House Sponsor: Faircloth |
Senate Bill 1047 amends the Tax Code to establish that statutory provisions authorizing installment payments of property taxes imposed on certain residence homesteads apply only to an individual who is disabled or at least 65 years of age and entitled to an exemption from taxation by a public school district of $10,000 of the appraised value of the individual's residence homestead or to a disabled veteran or the unmarried surviving spouse of a disabled veteran who qualified for an exemption on the donated residence homestead of a partially disabled veteran or exemptions on certain property owned by a disabled veteran. The bill clarifies the dates by which penalty-free and interest-free installment payments of property taxes imposed on certain property in a disaster area must be paid, provided the first installment is paid before the delinquency date. The bill also authorizes an applicable person to pay taxes imposed on certain property in a disaster area that the person owns in four equal installments without penalty or interest if the first installment is paid and the required notice is provided before the first day of the first month after the delinquency date.