Limits ad valorem taxes on residence homesteads of disabled or elderly individuals and their surviving spouses in Texas.

This bill establishes a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. It specifies that if an individual qualifies for the exemption after the county establishes the limitation, the county cannot increase the taxes on the homestead above the amount imposed in the first year of the exemption. If the individual makes improvements to the homestead, the county may increase taxes based on the enhancement of value.

Limits ad valorem taxes on residence homesteads of disabled or elderly individuals and their surviving spouses in Texas.

This bill establishes a limitation on the total amount of ad valorem taxes that a county may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. It specifies that if an individual qualifies for the exemption after the county establishes the limitation, the county cannot increase the taxes on the homestead above the amount imposed in the first year of the exemption. If the individual makes improvements to the homestead, the county may increase taxes based on the enhancement of value.