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Bill > HJR43


TX HJR43

TX HJR43
Proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.


summary

Introduced
11/12/2024
In Committee
03/03/2025
Crossed Over
Passed
Dead
06/02/2025

Introduced Session

89th Legislature Regular Session

Bill Summary

A JOINT RESOLUTION proposing a constitutional amendment to exempt from ad valorem taxation the total market value of the residence homesteads of certain elderly persons and their surviving spouses.

AI Summary

This joint resolution proposes a constitutional amendment to provide a property tax exemption for elderly homeowners and their surviving spouses in Texas. Specifically, individuals who are 72 years or older and have received a homestead exemption for at least 10 consecutive years would be fully exempt from paying ad valorem (property) taxes on their entire home's market value. The surviving spouse of such a person can also receive the full tax exemption if they were at least 55 years old when their spouse died and continue to live in the same home. The amendment includes provisions to protect school district revenues by allowing the legislature to create formulas to offset potential tax revenue losses. Additionally, political subdivisions with existing debt can continue to levy taxes on these exempted properties until the debt is discharged. The proposed amendment is set to take effect on January 1, 2026, and will be submitted to Texas voters for approval in a statewide election on November 4, 2025, with the ballot language clearly stating the proposed tax exemption.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Referred to Ways & Means (on 03/03/2025)

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