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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the governing body of a taxing unit |
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that adopts an exemption from ad valorem taxation of a percentage of |
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the appraised value of an individual's residence homestead to set a |
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limit on the dollar amount of the exemption to which an individual |
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is entitled in a tax year. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.13(n), Tax Code, is amended to read as |
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follows: |
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(n) In addition to any other exemptions provided by this |
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section, an individual is entitled to an exemption from taxation by |
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a taxing unit of a percentage of the appraised value of the |
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individual's [his] residence homestead if the exemption is adopted |
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by the governing body of the taxing unit before July 1 in the manner |
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provided by law for official action by the body. The percentage |
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adopted by the governing body may not exceed 20 percent. If the |
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percentage set by the governing body [taxing unit] produces an |
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exemption in a tax year of less than $5,000 when applied to a |
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particular residence homestead, the individual is entitled to an |
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exemption of $5,000 of the appraised value. A governing body that |
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adopts an exemption under this subsection may by official action |
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taken before July 1 provide that if the percentage set by the |
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governing body produces an exemption in a tax year of more than a |
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dollar amount specified by the governing body when applied to a |
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particular residence homestead, the owner of the homestead is |
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entitled to an exemption of the dollar amount of the appraised value |
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specified by the governing body [The percentage adopted by the
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taxing unit may not exceed 20 percent]. |
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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 January 1, 2016, but only |
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if the constitutional amendment proposed by the 84th Legislature, |
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Regular Session, 2015, authorizing the governing body of a |
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political subdivision that adopts an exemption from ad valorem |
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taxation of a percentage of the market value of an individual's |
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residence homestead to set a limit on the dollar amount of the |
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exemption to which an individual is entitled in a tax year is |
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approved by the voters. If that amendment is not approved by the |
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voters, this Act has no effect. |