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

This bill establishes a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. The limitation applies to taxing units other than school districts, including counties, municipalities, and junior college districts. The bill defines terms such as "last year's total value" and "last year's levy," and it outlines conditions under which the limitation on tax increases may expire.

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

This bill establishes a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. The limitation applies to taxing units other than school districts, including counties, municipalities, and junior college districts. The bill defines terms such as "last year's total value" and "last year's levy," and it outlines conditions under which the limitation on tax increases may expire.