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 |
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.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, SD, SJS
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