TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2328 by Villarreal (Relating to a limitation on the amount of ad valorem taxes that may be imposed on the residence homesteads of certain elderly individuals by a county.), As Introduced |
Subject to approval of the related constitutional amendment, HJR 68, this bill would allow a limitation of county property taxes on the residence homesteads of persons 65 or over to expire when the owners failed to meet the bill's income requirements. To retain the limitation, eligible owners' household income for the preceding year could not exceed the greater of $35,000 or the median household income for individuals 65 years of age or older, according to the most recent U.S. Bureau of Census data.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, SD, WP, DLBe
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