Bill > HB155

This bill provides a new property tax exemption for elderly homeowners in Texas, specifically for individuals who are 72 years of age or older and have received a homestead exemption for at least 10 consecutive years. The bill allows these qualifying individuals to be fully exempt from property taxes on their residence homestead. Additionally, the bill extends this exemption to the surviving spouse of a person who qualified for the exemption, provided the surviving spouse was at least 55 years old when their spouse died and continues to live in the same residence homestead. The bill makes corresponding technical amendments to various sections of the Tax Code and Education Code to accommodate this new exemption, including provisions for how taxes will be calculated, how exemptions will be applied, and how school districts will be compensated for potential revenue losses. The new exemption would take effect for the 2027 tax year, but is contingent upon voters approving a related constitutional amendment. The bill aims to provide additional property tax relief for elderly homeowners who have maintained a residence in Texas for an extended period.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=892&Bill=HB155