Provides tax exemptions for residence homesteads of certain elderly individuals and their surviving spouses.

This bill amends the Texas Tax Code to provide exemptions from ad valorem taxation for residence homesteads of individuals aged 65 and older and their surviving spouses. It specifies that these exemptions apply to the total appraised value of the residence homesteads. The exemptions are effective from the 2027 tax year, contingent on voter approval of a related constitutional amendment. The bill also outlines procedures for calculating taxes when exemptions are applied or canceled mid-year and mandates public notices for school district budget meetings.

Provides tax exemptions for residence homesteads of certain elderly individuals and their surviving spouses.

This bill amends the Texas Tax Code to provide exemptions from ad valorem taxation for residence homesteads of individuals aged 65 and older and their surviving spouses. It specifies that these exemptions apply to the total appraised value of the residence homesteads. The exemptions are effective from the 2027 tax year, contingent on voter approval of a related constitutional amendment. The bill also outlines procedures for calculating taxes when exemptions are applied or canceled mid-year and mandates public notices for school district budget meetings.