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TX HB4321
Bill
Status
3/11/2025
Primary Sponsor
David Cook
Click for details
AI Summary
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Replaces fixed dollar exemptions for disabled veterans with percentage-based exemptions: 20% for 10-29% disability rating, 40% for 30-49%, 60% for 50-69%, 80% for 70-99%, and 100% for veterans rated 100% disabled
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Veterans aged 65+ with at least 10% disability, those totally blind in one or both eyes, or those who have lost use of one or more limbs receive an 80% exemption (previously capped at $12,000)
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Surviving spouses of disabled veterans receive a fixed dollar exemption equal to the veteran's exemption amount at time of death, available only while the spouse remains unmarried
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If no surviving spouse exists, unmarried children under 18 divide the veteran's exemption dollar amount equally among eligible children
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Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature
Legislative Description
Relating to the exemption from ad valorem taxation of a percentage of the assessed value of a property owned by certain disabled veterans and the amount of the exemption for the surviving spouses and children of certain disabled veterans.
Taxation
Last Action
Referred to Ways & Means
4/1/2025