TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB1099 by Patrick, Dan (Relating to a local option election in Harris County to set a limitation of not less than three percent on the maximum average annual increase in the appraised value of residence homesteads for purposes of ad valorem taxation by each political subdivision in the county.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2008 | $0 |
2009 | ($26,411,000) |
2010 | ($54,524,000) |
2011 | ($82,807,000) |
2012 | ($85,988,000) |
Fiscal Year | Probable Savings/(Cost) from FOUNDATION SCHOOL FUND 193 |
Probable Revenue Gain/(Loss) from School Districts - Initial Impact |
Probable Revenue Gain/(Loss) from Counties |
Probable Revenue Gain/(Loss) from Cities |
---|---|---|---|---|
2008 | $0 | $0 | $0 | $0 |
2009 | ($26,411,000) | ($31,654,000) | ($11,517,000) | ($9,247,000) |
2010 | ($54,524,000) | ($63,573,000) | ($23,303,000) | ($18,589,000) |
2011 | ($82,807,000) | ($95,761,000) | ($35,358,000) | ($28,026,000) |
2012 | ($85,988,000) | ($97,772,000) | ($36,358,000) | ($28,639,000) |
Contingent on the passage of a constitutional amendment, the proposed bill would amend Section 23.23 of the Tax Code to allow the Harris County Commissioners Court to call an election to permit Harris County voters to decide whether Harris County Appraisal District should be required to limit the growth in the appraised value of homesteads to a percentage other than the current 10 percent but not less than 3 percent per year since the last reappraisal. For informational purposes, this analysis assumes that Harris County voters would require the appraisal district to limit homestead value growth to 3 percent per year since the last reappraisal.
The provisions in the bill would take effect January 1, 2008, contingent upon passage of a constitutional amendment authorizing the proposed reduced appraisal limitation as the bill relates to the proposed limitation.
Source Agencies: |
LBB Staff: | JOB, CT, KJG, SD, SJS
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