AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
S.B. 1552 is intended to reduce veterans' property tax burden. The bill will give back to the brave men and women who have given so much to their state and country.
S.B. 1552 is companion enabling language to S.J.R. 59. Under the bill, a veteran is exempt from paying at least $10,000 of homestead property value. Texas county governments will be able to increase the amount of the exemption up to $75,000 of homestead property value. If a county government does raise the property tax exemption, it may not lower the exemption in the future. Veterans will not be permitted to couple this exemption with any other property tax exemptions.
As proposed, S.B. 1552 amends current law relating to an exemption from ad valorem taxation by a county of a portion of the value of the residence homestead of a veteran who has been honorably discharged.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 11.13, Tax Code, by adding Subsection (t), as follows:
(t) Entitles a veteran of the United States armed services who has been honorably discharged from the branch of service in which the individual served to an exemption from taxation for the county purposes authorized by Section 1-a(a) (added in S.J.R. 59, 83rd Legislature, 2013), Article VIII, Texas Constitution, of $10,000, or a greater amount provided by action of the commissioners court of the county as permitted by Section 1-a(b) (added in S.J.R. 59, Acts of the 83rd Legislature, 2013), Article VIII, Texas Constitution, of the appraised value of the veteran's residence homestead. Prohibits the exemption authorized by this subsection and the exemption authorized by Subsection (a) (relating to a family or single adult is entitled to an exemption from taxation for the county) from being aggregated. Prohibits a veteran who qualifies for an exemption under this subsection and under Subsection (d) (relating to an individual who is disabled or is 65 or older is entitled to an exemption from taxation for a portion of the appraised value of residence) from receiving both of those exemptions, but entitles the veteran to receive the exemption in the greater amount.
SECTION 2. Provides that this Act applies only to ad valorem taxes imposed for a tax year that begins on or after the effective date of this Act.
SECTION 3. Effective date: January 1, 2014, contingent upon passage of the relevant constitutional amendment proposed by the 83rd Legislature, Regular Session, 2013.