LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATURE 3rd CALLED SESSION - 2006

April 24, 2006

TO:	Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	SJR9 by Barrientos (Proposing a constitutional amendment to increase the minimum amount of the local option residence homestead exemption from ad valorem taxation by a political subdivision.), As Introduced

No fiscal implication to the State is anticipated, other than the cost of publication.

The cost to the state for publication of the resolution is $99,767.

This resolution would propose an amendment to Article VIII of the Texas Constitution to increase the minimum dollar amount of a local option percentage homestead exemption from $5,000 to $15,000.

 

Taxing units are currently allowed to adopt a local option homestead exemption, not to exceed 20 percent of a homestead's appraised value. However, the amount of the exemption may not be less than $5,000.

 

The proposed amendment alone would have no fiscal impact on the state or units of local government. The enabling legislation associated with this proposed amendment constitutional amendment is SB 17.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, SD, SJS