Bill > HB301

This bill establishes a new property tax exemption for elderly homeowners in Texas who have received a homestead exemption for at least 10 consecutive years. Specifically, individuals who are 65 years of age or older and have maintained a homestead exemption for the preceding 10 years will be eligible for an exemption on the total appraised value of their residence homestead. Additionally, the bill extends this exemption to surviving spouses who are at least 55 years old at the time of their spouse's death, provided the property remains their primary residence and the deceased spouse qualified for the exemption in the year of their death. The bill makes corresponding technical amendments to various sections of the Tax Code and Education Code to implement this new exemption, including provisions for how taxes will be calculated and reported. The exemption will only take effect for the 2027 tax year, and its implementation is contingent upon voter approval of a related constitutional amendment. The changes are designed to provide additional property tax relief for long-term elderly homeowners and their surviving spouses, with provisions to ensure school districts are compensated for potential revenue losses through state aid adjustments.

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=891&Bill=HB301