TO: | Honorable Fred Hill, Chair, House Committee on Local Government Ways & Means |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2254 by Rose (Relating to reducing the penalty for a failure by a disabled or elderly person to make a timely installment payment of ad valorem taxes imposed on the person's residence homestead.), As Introduced |
The bill would reduce the percentage penalty to six percent from 12 percent for failure by a disabled or elderly person to make a timely installment payment of property taxes on a residence homestead.
Currently, a person who is disabled or at least 65 years of age is allowed to make quarterly property tax installment payments on his or her homestead: 1) one-quarter before the delinquency date; 2) one-quarter before April; 3) one-quarter before June 1; and 4) one-quarter before August 1.
Since the bill would not change school districts taxable property values, no fiscal implication to the State is anticipated.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, SD, WP, DLBe
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