Bill Status of HB3602 9th General Assembly
Short Description: PROP TX-HOMESTEAD EXEMPT
Rep. Ann Williams - Sidney H. Mathias
| 1/8/2013||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. In a Section concerning the alternative general homestead exemption, provides that the maximum amount of the exemption is $40,000 for taxable year 2011 and thereafter. Provides that the alternative general homestead exemption applies on a permanent basis. In a Section concerning the long-time occupant homestead exemption, expands the definition of "adjusted homestead value". Beginning with taxable year 2011 and thereafter, "adjusted homestead value" means a property's base homestead value increased by 7% for each taxable year after the base year through and including the current tax year for qualified taxpayers with a household income of $100,000 or less. Makes other changes. Effective immediately.