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TX SB634
Bill
Status
12/17/2024
Primary Sponsor
Sarah Eckhardt
Click for details
AI Summary
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Authorizes governing bodies of taxing units (cities, counties, school districts, etc.) to adopt a residence homestead exemption expressed as a specific dollar amount rather than a percentage of appraised value
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Requires the exemption amount to be at least $5,000 and must be adopted before July 1 of the tax year in which it applies
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Allows this new exemption to be claimed in addition to all other existing homestead exemptions under current law
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Permits taxing units to disregard the exemption when collecting taxes pledged for debt payment if granting the exemption would impair existing debt obligations
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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 authority of the governing body of a taxing unit to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.
Property Interests
Last Action
Referred to Local Government
2/3/2025