Texas HB55 amends the public school finance system to consider optional homestead exemptions when calculating property values.
Texas HB55 modifies the public school finance system to account for optional homestead exemptions in property value calculations. The bill amends the Education Code to adjust the certification process for state foundation school program funds. It also revises the Government Code to redefine "taxable value" for property value studies, excluding certain exemptions. These changes apply to property value studies conducted for tax years beginning on or after January 1, 2026.
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