Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Impact
The proposed bill would directly amend the Texas Tax Code, particularly concerning the tax obligations of partially disabled veterans and their families. By formalizing the tax exemption, HB297 aims to alleviate the financial burdens faced by these individuals who often have additional healthcare and living costs. This measure could significantly impact state revenue collections, as it increases the number of homeowners eligible for property tax reductions, leading to a decrease in funds available for local services dependent on property tax revenue.
Summary
House Bill 297 proposes an exemption from ad valorem taxation for the residence homestead of partially disabled veterans and their surviving spouses, contingent upon the veteran's disability rating. Specifically, veterans with a disability rating of at least 10% but less than 100% will qualify for a percentage exemption corresponding to their rating. In the case of a deceased veteran, the surviving spouse can continue to benefit from this tax exemption as long as they have not remarried and have maintained the property as their primary residence. This legislative proposal seeks to provide continued financial relief to our veterans and their families in recognition of their service.
Contention
Discussions surrounding HB297 may bring attention to the fairness and implications of expanding property tax exemptions for particular demographics, such as veterans. While proponents argue this bill honors the sacrifices made by veterans, critics may raise concerns about the impact on local funding and the fairness of tax exemptions that potentially favor specific groups over others. The necessity of weighing veterans' rights against broader community implications may be a point of contention as the bill progresses through the legislative process.
Enabling for
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to the exemption from ad valorem taxation of part of the appraised value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Proposing a constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of such a veteran based on the disability rating of the veteran.
Relating to the exemption from ad valorem taxation of a percentage of the assessed value of a property owned by certain disabled veterans and the amount of the exemption for the surviving spouses and children of certain disabled veterans.
Relating to an exemption from ad valorem taxation of the residence homestead of the surviving spouse of a veteran who died as a result of a qualifying condition or disease.
Relating to an exemption from ad valorem taxation of the total appraised value of the residence homesteads of certain disabled first responders and their surviving spouses.
Relating to the definition of "residence homestead" for purposes of the exemption from ad valorem taxation of the residence homestead of a totally disabled veteran or the surviving spouse of such a veteran.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation all or part of the market value of the residence homesteads of certain disabled veterans and their surviving spouses.
Relating to the authority of a taxing unit other than a school district, county, municipality, or junior college district to establish a limitation on the amount of ad valorem taxes that the taxing unit may impose on the residence homesteads of certain low-income individuals who are disabled or elderly and their surviving spouses.
Relating to providing for a reduction of the appraised value of a residence homestead for ad valorem tax purposes for the first tax year in which the owner qualifies the property for a residence homestead exemption based on the amount by which the limitation on increases in the appraised value of a residence homestead reduced the appraised value of the owner's former residence homestead for the last tax year in which the owner qualified the former residence homestead for a residence homestead exemption.
Establishes pilot program in Division of Taxation to provide income tax credits for the opening of certain homesteads to hunting activities in areas with high number of wildlife incidents.