TX SB467

Creates a temporary property tax exemption for residence homesteads completely destroyed by fire, applicable only for the tax year in which the fire occurs

Exemption amount is prorated based on the number of days remaining in the tax year after the fire, calculated by multiplying the improvement's appraised value by the fraction of days remaining divided by 365

Property must have been a habitable dwelling immediately before the fire and remain uninhabitable for at least 30 days after the fire to qualify

Property owners must apply to the chief appraiser within 180 days of the fire; if taxes were already paid, the tax collector must issue a refund for the overpayment

Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature