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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of an elderly or disabled person to defer |
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or abate the collection of ad valorem taxes on the person's |
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residence homestead if the homestead is subject to a mortgage. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 33.06, Tax Code, is amended by adding |
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Subsections (h), (i), and (j) to read as follows: |
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(h) Except as provided by Subsection (i), an individual is |
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not required to obtain the consent of the holder of a mortgage on |
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property the individual owns and occupies as a residence homestead |
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in order to obtain a deferral or abatement under this section. |
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(i) An individual must obtain the written consent of the |
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holder of a mortgage on property the individual owns and occupies as |
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a residence homestead before filing an affidavit under this section |
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if: |
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(1) the mortgage balance is equal to at least 60 |
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percent of the appraised value of the property; or |
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(2) a default has occurred with respect to the |
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obligation secured by the mortgage for a reason other than |
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nonpayment of the taxes for which the person is seeking the deferral |
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or abatement. |
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(j) Filing an affidavit under this section or failing to pay |
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taxes that are deferred or abated under this section does not |
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constitute a default for purposes of Subsection (i)(2). |
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SECTION 2. The change in law made by this Act applies only |
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to a mortgage that is issued on or after the effective date of this |
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Act. A mortgage that is issued before the effective date of this Act |
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is governed by the law as it existed immediately before the |
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effective date of this Act, and that law is continued in effect for |
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that purpose. |
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SECTION 3. This Act takes effect September 1, 2017. |