Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1996 by Menéndez (Relating to installment payments of ad valorem taxes imposed on certain residence homesteads.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Section 31.031 of the Tax Code, regarding property tax collections and installment payments of certain homestead taxes, to specify that the individuals who may pay their homestead property taxes in installments are those addressed in Sections 11.13, 11.132, 11.22, Tax Code.
The bill 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 January 1, 2016.
Local Government Impact
No fiscal implication to units of local government is anticipated.