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A BILL TO BE ENTITLED
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AN ACT
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relating to the qualification date for a residence homestead |
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exemption from ad valorem taxation applicable to certain property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 26, Tax Code, is amended by adding |
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Section 26.1125 to read as follows: |
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Sec. 26.1125. PRORATING TAXES ON CERTAIN RESIDENCE |
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HOMESTEADS. (a) This section applies only to property that has an |
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appraised value that does not exceed 125 percent of the median |
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appraised value of residence homesteads in the county in which the |
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property is located. |
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(b) Notwithstanding Section 11.42(a), a person who acquires |
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property after January 1 and before October 1 of a tax year is |
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entitled to receive an exemption authorized by Section 11.13, other |
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than an exemption authorized by Section 11.13(c) or (d) for an |
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individual 65 years of age or older, for a portion of that tax year |
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immediately on qualification for the exemption. If the person |
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qualifies the property for an exemption authorized by Section |
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11.13, other than an exemption authorized by Section 11.13(c) or |
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(d) for an individual 65 years of age or older, before October 1 of |
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the tax year in which the person acquires the property, the amount |
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of tax due on the property is calculated by: |
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(1) subtracting: |
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(A) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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qualified for the exemption for the entire year; from |
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(B) the amount of the taxes that otherwise would |
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be imposed on the property for the entire year had the individual |
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not qualified for the exemption during the year; |
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(2) multiplying the remainder determined under |
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Subdivision (1) by: |
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(A) three-fourths, if the person acquired the |
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property during the first quarter of the tax year; |
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(B) one-half, if the person acquired the property |
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during the second quarter of the tax year; or |
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(C) one-fourth, if the person acquired the |
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property during the third quarter of the tax year; and |
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(3) adding the product determined under Subdivision |
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(2) and the amount described by Subdivision (1)(A). |
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(c) Notwithstanding Section 11.43(d), a person who after |
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January 1 and before October 1 of a tax year acquires property that |
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qualifies for an exemption described by Subsection (b) must apply |
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for the exemption for that tax year before the first anniversary of |
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the date the person acquires the property. |
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(d) If a person qualifies for an exemption described by |
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Subsection (b) with respect to the property after the amount of the |
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tax due on the property is calculated and the effect of the |
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qualification is to reduce the amount of the tax due on the |
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property, the assessor for each taxing unit shall recalculate the |
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amount of the tax due on the property and correct the tax roll. If |
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the tax bill has been mailed and the tax on the property has not been |
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paid, the assessor shall mail a corrected tax bill to the person in |
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whose name the property is listed on the tax roll or to the person's |
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authorized agent. If the tax on the property has been paid, the tax |
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collector for the taxing unit shall refund to the person who paid |
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the tax the amount by which the payment exceeded the tax due. |
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(e) This section expires January 1, 2012. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect September 1, 2009. |