Expands homestead exemption for persons 65 and older with household income under $350,000.

The bill expands the homestead exemption for persons aged 65 and older, providing a total exemption from ad valorem taxation, excluding school district levies, for those with household income not exceeding $350,000. The income limitation is adjusted annually based on the average cost-of-living index. The property appraiser must notify the owner of any improper exemption, and the owner has 30 days to pay back taxes, penalties, and interest. The bill also includes provisions for handling clerical mistakes and joint title properties. The changes apply to the 2027 tax roll.

Expands homestead exemption for persons 65 and older with household income under $350,000.

The bill expands the homestead exemption for persons aged 65 and older, providing a total exemption from ad valorem taxation, excluding school district levies, for those with household income not exceeding $350,000. The income limitation is adjusted annually based on the average cost-of-living index. The property appraiser must notify the owner of any improper exemption, and the owner has 30 days to pay back taxes, penalties, and interest. The bill also includes provisions for handling clerical mistakes and joint title properties. The changes apply to the 2027 tax roll.