Texas HB5481 extends residence homestead exemption from ad valorem taxation for owners temporarily absent due to military or Foreign Service duty.

Texas HB5481 amends the Tax Code to ensure a residence homestead retains its exemption from ad valorem taxation if the owner is temporarily absent. This applies if the owner does not establish another principal residence and the absence is either for less than two years with intent to return or due to military service or Foreign Service employment. The exemption continues to protect the owner's property from property tax increases during their absence.

Texas HB5481 extends residence homestead exemption from ad valorem taxation for owners temporarily absent due to military or Foreign Service duty.

Texas HB5481 amends the Tax Code to ensure a residence homestead retains its exemption from ad valorem taxation if the owner is temporarily absent. This applies if the owner does not establish another principal residence and the absence is either for less than two years with intent to return or due to military service or Foreign Service employment. The exemption continues to protect the owner's property from property tax increases during their absence.