80R3001 JD-D
 
  By: Villarreal H.B. No. 658
 
 
 
   
 
 
A BILL TO BE ENTITLED
AN ACT
relating to increasing the minimum amount of the local option
residence homestead exemption from ad valorem taxation by a taxing
unit from $5,000 to $15,000.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Section 11.13, Tax Code, is amended by amending
Subsection (n) and adding Subsection (n-1) to read as follows:
       (n)  In addition to any other exemptions provided by this
section, an individual is entitled to an exemption from taxation by
a taxing unit of a percentage of the appraised value of the
individual's [his] residence homestead if the exemption is adopted
by the governing body of the taxing unit before July 1 in the manner
provided by law for official action by the body. If the percentage
set by the taxing unit produces an exemption in a tax year of less
than $15,000 [$5,000] when applied to a particular residence
homestead, the individual is entitled to an exemption of $15,000 
[$5,000] of the appraised value. The percentage adopted by the
taxing unit may not exceed 20 percent.
       (n-1)  Notwithstanding Subsection (n), if the governing body
of a taxing unit adopted the exemption under that subsection before
January 1, 2008, until the exemption is subsequently changed by the
governing body, the exemption continues in effect at the greater
of:
             (1)  the percentage amount in effect for the 2007 tax
year; or
             (2)  the amount of $5,000 of the appraised value.
       SECTION 2.  This Act takes effect January 1, 2008, and
applies only to ad valorem taxes imposed for a tax year beginning on
or after that date, but only if the constitutional amendment
proposed by the 80th Legislature, Regular Session, 2007, to
increase the minimum amount of the local option residence homestead
exemption from ad valorem taxation by a political subdivision from
$5,000 to $15,000 is approved by the voters. If that amendment is
not approved by the voters, this Act has no effect.