Honorable Teel Bivins, Chair, Senate Committee on Finance
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
HB136 by Brown, Fred (Relating to limiting the amount of county, municipal, or junior college district ad valorem taxes that may be imposed on the residence homesteads of the disabled and of the elderly and their surviving spouses.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would authorize a tax ceiling for qualified homeowners who are age 65 or older or disabled on taxes paid to all counties, cities or towns, and junior college districts. The tax ceiling currently applies only to taxes paid to independent school districts by homeowners age 65 or older. The corresponding constitutional amendment for this bill, House Joint Resolution 16, is self-enabling. Therefore, this bill would have no fiscal impact. Estimated revenue losses for the proposed tax ceiling are reflected on the fiscal note for the constitutional amendment.
Local Government Impact
No fiscal implication to units of local government is anticipated.