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Senate Bill 201 |
Senate Author: Uresti et al. |
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Effective: 1-1-12 |
House Sponsor: Callegari |
Senate Bill 201 amends the Tax Code to authorize a 100 percent or totally disabled veteran who qualifies for a property tax exemption on the total appraised value of the veteran's residence homestead on the basis of disability after January 1 of a tax year to receive the exemption for the applicable portion of that tax year immediately on qualifying for the exemption. The bill provides for the proration of the amount of taxes due on the residence homestead to reflect the portion of the tax year subject to the tax exemption and, if the appraisal roll shows that such an exemption applicable to a property on January 1 of a year terminated during the year, provides a similar proration of the tax due against that homestead to reflect only the portion of the tax year remaining after the date the exemption is terminated.
If a 100 percent or totally disabled veteran qualifies for a property tax exemption with respect to the veteran's residence homestead after the amount of the tax due on the property is calculated, the bill requires a recalculation of the amount of tax due on the property, a correction of the tax roll, the mailing of a corrected tax bill if necessary, and, if the tax has been paid, a refund of the excess tax paid.