Bill > HB126

This bill amends the Tax Code to reduce the amount of the limitation on the total amount of ad valorem (property) taxes that may be imposed by a school district on the residence homestead of an individual who is elderly or disabled. The reduction would reflect any decrease from the previous tax year in the district's maximum compressed tax rate, which is the maximum rate that can be imposed for maintenance and operations purposes. The bill provides specific calculations for how the limitation would be adjusted based on the year the individual or their spouse first qualified for the elderly or disabled homestead exemption. The bill would only apply to tax years beginning on or after January 1, 2022, and is contingent on the approval of a related constitutional amendment by voters.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=871&Bill=HB126