TX SB23

Increases the school district property tax exemption for residence homesteads of persons who are 65 or older or disabled from $10,000 to $60,000, effective for tax years beginning on or after January 1, 2025

Provides additional state aid to school districts beginning with the 2025-2026 school year to offset revenue losses from the increased homestead exemption for elderly and disabled residents

Requires chief appraisers to prepare provisional appraisal rolls for school districts for the 2025 tax year that account for the exemption changes, with the provisional roll becoming final if voters approve the associated constitutional amendment (S.J.R. 85)

Establishes transitional procedures allowing school districts with excess local revenue to delay required elections if the constitutional amendment would eliminate their need to hold such elections

Contingent on voter approval of the constitutional amendment proposed by S.J.R. 85 at a November 4, 2025 election; if not approved, Article 1 provisions have no effect and supplemental tax bills would be issued to affected homeowners