LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 76th Regular Session February 17, 1999 TO: Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations FROM: John Keel, Director, Legislative Budget Board IN RE: SB 435 by Carona (Relating to the deadline for the adoption of an optional exemption from ad valorem taxation on residence homesteads.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact Some appraisal districts could experience one-time administrative costs in circumstances where taxing units adopt the exemption close to the July 25 date upon which appraisal districts are required to complete taxing unit appraisal rolls. Those appraisal districts accustomed to completing appraisal rolls on or near July 1 could incur added expenses for factoring in a new homestead exemption into district information systems. Source Agencies: LBB Staff: JK, TL, BR