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A JOINT RESOLUTION
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proposing a constitutional amendment to increase the maximum 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 20 percent to 30 percent. |
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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 thirty [twenty] |
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percent. However, the amount of an exemption authorized pursuant |
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to this subsection may not be less than 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. Where ad valorem tax has previously been pledged for the |
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payment of debt, the governing body of a political subdivision may |
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continue to levy and collect the tax against the value of the |
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homesteads exempted under this subsection until the debt is |
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discharged if the cessation of the levy would impair the obligation |
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of the contract by which the debt was created. The legislature by |
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general law may prescribe procedures for the administration of |
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residence homestead exemptions. |
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SECTION 2. 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 maximum |
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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 20 percent to 30 |
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percent." |