This bill would amend Chapter 11 of the Tax Code, regarding property tax exemptions, to add a local option homestead exemption for eligible peace officers employed by the state or a political subdivision if the peace officer's homestead is located in a high-need area as designated by the taxing unit. The taxing unit may adopt either a percentage or flat dollar amount. The bill would hold school districts harmless for granting a local exemption.
The bill alone would not have any effect and would require constitutional authorization. The proposed constitutional amendment associated with this bill (HJR 83) is self-implementing. Consequently, any fiscal impact is shown in the fiscal note for that constitutional amendment.
The bill would be effective January 1, 2022, contingent on voter approval of a constitutional amendment (HJR 83).
The bill would have no fiscal impact on units of local government. Any fiscal impact is shown in the fiscal note for the corresponding constitutional amendment.