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TX HB982
Bill
Status
11/12/2024
Primary Sponsor
Terry Wilson
Click for details
AI Summary
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Authorizes taxing units other than school districts, counties, municipalities, or junior college districts to establish property tax limitations on residence homesteads of disabled or elderly individuals whose household income does not exceed 200% of the federal poverty level
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Freezes property taxes at the amount imposed in the first year the eligible individual qualified for the disabled/elderly homestead exemption, with adjustments allowed only for new improvements beyond repairs or government-required modifications
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Allows surviving spouses who are disabled or at least 55 years old to retain the tax limitation if they remain in the homestead and meet the income eligibility requirements
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Permits eligible individuals who move to a new homestead within the same taxing unit to transfer a proportional tax limitation to their new residence
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Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature authorizing these tax limitations
Legislative Description
Relating to the authority of a taxing unit other than a school district, county, municipality, or junior college district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of certain low-income individuals who are disabled or elderly and their surviving spouses.
Property Interests
Last Action
Placed on General State Calendar
5/14/2025