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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 certain taxing |
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units to adopt a local option residence homestead exemption from ad |
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valorem taxation of a portion, expressed as a dollar amount, of the |
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appraised value of an individual's residence homestead. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11.13, Tax Code, is amended by adding |
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Subsection (n-1) to read as follows: |
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(n-1) The governing body of a taxing unit other than a |
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school district, in the manner provided by law for official action |
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by the body, may adopt an exemption from taxation by the taxing unit |
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of a portion, expressed as a dollar amount, of the appraised value |
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of an individual's residence homestead. The exemption must be |
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adopted by the governing body before July 1 of the tax year in which |
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the exemption applies. If the governing body adopts an exemption |
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under this subsection, the amount of the exemption in a tax year may |
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not be less than $5,000. An individual is entitled to an exemption |
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adopted under this subsection in addition to any other exemptions |
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provided by this section. |
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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 certain |
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political subdivisions to adopt a local option residence homestead |
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exemption from ad valorem taxation of a portion, expressed as a |
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dollar amount, of the market value of an individual's residence |
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homestead is approved by the voters. If that amendment is not |
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approved by the voters, this Act has no effect. |