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A JOINT RESOLUTION
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proposing a constitutional amendment to increase the minimum amount |
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of the local option residence homestead exemption from ad valorem |
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taxation by a political subdivision from $5,000 to $30,000. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1-b(e), Article VIII, Texas |
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Constitution, is amended to read as follows: |
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(e) The governing body of a political subdivision[, other
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than a county education district,] may exempt from ad valorem |
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taxation a percentage of the market value of the residence |
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homestead of a married or unmarried adult, including one living |
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alone. [In the manner provided by law, the voters of a county
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education district at an election held for that purpose may exempt
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from ad valorem taxation a percentage of the market value of the
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residence homestead of a married or unmarried adult, including one
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living alone.] The percentage may not exceed twenty percent. |
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However, the amount of an exemption authorized pursuant to this |
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subsection may not be less than $30,000 [Five Thousand Dollars
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($5,000)] unless the legislature by general law prescribes other |
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monetary restrictions on the amount of the exemption. An eligible |
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adult is entitled to receive other applicable exemptions provided |
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by law. An exemption under this subsection that was in effect for |
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the 2007 ad valorem tax year in an amount of less than $30,000 |
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continues to apply to eligible residence homesteads taxed by the |
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political subdivision until, in accordance with general law, the |
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exemption is repealed or the amount of the exemption is changed, in |
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which event the amount of the exemption after the change may not be |
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less than $30,000. Where ad valorem tax has previously been pledged |
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for the payment of debt, the governing body of a political |
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subdivision may continue to levy and collect the tax against the |
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value of the homesteads exempted under this subsection until the |
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debt is discharged if the cessation of the levy would impair the |
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obligation of the contract by which the debt was created. The |
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legislature by general law may prescribe procedures for the |
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administration of residence homestead exemptions. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 80th Legislature, |
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Regular Session, 2007, to increase the minimum amount of the local |
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option residence homestead exemption from ad valorem taxation from |
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$5,000 to $30,000. |
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(b) The amendment to Section 1-b(e), Article VIII, of this |
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constitution takes effect beginning with the tax year that begins |
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January 1, 2008. |
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(c) This temporary provision expires January 1, 2009. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 6, 2007. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to increase the minimum |
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amount of the local option residence homestead exemption from ad |
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valorem taxation by a political subdivision from $5,000 to |
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$30,000." |