Bill Status of HB4247 94th General Assembly
Short Description: PROP TX-DISABLED VETS
Rep. John E. Bradley - Mike Bost - Thomas Holbrook - Patrick J Verschoore - Jim Watson, Linda Chapa LaVia, Jack D. Franks, William B. Black, Jim Sacia, Naomi D. Jakobsson, Timothy L. Schmitz, Patricia Reid Lindner, Ruth Munson, Karen A. Yarbrough, Charles E. Jefferson and Kurt M. Granberg
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Ends the current exemption for disabled veterans with the 2005 tax year. Beginning with the 2006 tax year, provides a property tax exemption for property that is owned and used as a homestead by a disabled veteran or the spouse or unmarried surviving spouse of the veteran. Provides that the amount of the exemption is an amount equal to the assessed value of the property multiplied by the percentage of disability of the veteran. Sets forth requirements for the exemptions. Provides that a surviving spouse may transfer the exemption to homestead property acquired after the veteran's death. Requires an annual application for the exemptions. Effective immediately.