| TO: | Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB1110 by Nevárez (Relating to installment payments of the ad valorem taxes imposed on the residence homesteads of certain individuals.), As Introduced |
The bill would amend Section 31.031, Tax Code, related to property tax installment payments. Current law allows persons who are at least 65 years of age or disabled and certain surviving spouses of disabled veterans to pay their homestead taxes in four installments. The bill would include qualified disabled veterans and certain surviving children of disabled veterans as persons who are allowed to make property tax installment payments. The bill would also change the deadline for making the first of the four required payments from before the delinquency date (normally February 1) to not later than the 30th day after the delinquency date.
The bill would affect the timing of certain property tax installment payments but would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state.
The bill would take effect September 1, 2013 but would only apply to property taxes imposed for tax year 2014 or a later tax year.
| Source Agencies: | 304 Comptroller of Public Accounts
|
| LBB Staff: | UP, KK, SD, SJS
|