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. It applies to county, municipal, and junior college district taxes. The limitation takes effect January 1, 2026, contingent on voter approval of a constitutional amendment. The bill also outlines procedures for calculating taxes and handling exemptions, including provisions for back taxes if exemptions were erroneously allowed.

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. It applies to county, municipal, and junior college district taxes. The limitation takes effect January 1, 2026, contingent on voter approval of a constitutional amendment. The bill also outlines procedures for calculating taxes and handling exemptions, including provisions for back taxes if exemptions were erroneously allowed.