Proposing a constitutional amendment to increase the exemption of residence homesteads from ad valorem taxation by a school district.

This bill proposes a constitutional amendment to increase the exemption of residence homesteads from ad valorem taxation by a school district. It raises the exemption amount from $100,000 to $200,000 for all adults, including married or unmarried individuals. Additionally, it allows for an exemption of up to $10,000 for disabled persons and those aged 65 and older, based on economic need. The amendment will be submitted to voters in the November 4, 2025 election. If approved, it will take effect for the tax year beginning January 1, 2026, and expire on January 1, 2027.

Proposing a constitutional amendment to increase the exemption of residence homesteads from ad valorem taxation by a school district.

This bill proposes a constitutional amendment to increase the exemption of residence homesteads from ad valorem taxation by a school district. It raises the exemption amount from $100,000 to $200,000 for all adults, including married or unmarried individuals. Additionally, it allows for an exemption of up to $10,000 for disabled persons and those aged 65 and older, based on economic need. The amendment will be submitted to voters in the November 4, 2025 election. If approved, it will take effect for the tax year beginning January 1, 2026, and expire on January 1, 2027.