Limits ad valorem taxes on residence homesteads for 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 taxing units other than school districts, including counties, municipalities, and junior college districts. The limitation ensures that taxes on the homestead do not increase beyond the amount imposed in the first year the individual qualified for the exemption.
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