Loading chat...
TX HB455
Bill
Status
11/12/2024
Primary Sponsor
Mike Schofield
Click for details
AI Summary
-
Expands property tax limitations for disabled and elderly homeowners (65+) from only counties, municipalities, and junior college districts to all taxing units except school districts, freezing taxes at the amount imposed in the first year the homeowner qualified for the exemption
-
Existing homeowners who qualified for the disabled/elderly exemption before January 1, 2026 will have their tax limitation amount set at their 2025 tax level, plus any 2026 taxes from non-repair improvements made in 2025
-
Allows surviving spouses (age 55+ or disabled) to retain the tax limitation on the residence homestead if it was their home when the qualifying spouse died and remains their homestead
-
Permits tax increases only for property improvements beyond repairs or government-required modifications, with the new limitation applying to the adjusted tax amount
-
Takes effect January 1, 2026, contingent on voter approval of a related constitutional amendment proposed by the 89th Legislature
Legislative Description
Relating to the establishment of a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Property Interests
Last Action
Referred to Ways & Means
2/28/2025