HB4004 Summary

• Amends the Property Tax Code to modify the homestead exemption for persons with disabilities by adding an age requirement beginning in taxable year 2020.

• For taxable year 2020 and thereafter, if a person with a disability is 55 years of age or older at any point during the taxable year, the property becomes fully exempt from taxation under the Property Tax Code.

• Prior to this change, persons with disabilities received a $2,000 annual homestead exemption deducted from the property's assessed value; the full exemption applies only to those age 55 or older.

• Maintains existing requirements that the person with a disability must occupy the property as a primary residence, be liable for property taxes, and be an owner of record with a legal or equitable interest in the property.