TX HB382

Creates a complete property tax exemption for the total appraised value of a residence homestead for individuals who are 72 years of age or older and have received a homestead exemption on the same property for at least the preceding 10 years

Extends the full exemption to surviving spouses who were 55 years of age or older when the qualifying spouse died, provided the property remains their residence homestead

Requires school districts to provide additional state aid to offset lost local tax revenue resulting from the new exemption, beginning with the 2026-2027 school year

Allows taxing units to disregard the exemption when collecting taxes pledged for debt payment if the debt was incurred before the exemption was adopted and granting it would impair the debt obligation

Takes effect January 1, 2026, contingent upon voter approval of a corresponding constitutional amendment, with the exemption applying to taxes beginning with the 2026 tax year