Texas SB488 amends tax code to allow certain taxing units to limit ad valorem taxes on homesteads of disabled or elderly individuals and their.

Texas SB488 amends the Tax Code to allow taxing units other than school districts to establish a limitation on the amount of ad valorem taxes imposed on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. The bill specifies conditions under which the limitation applies, including restrictions on tax increases due to property improvements and provisions for surviving spouses. The changes are contingent on voter approval of a constitutional amendment in 2025.

Texas SB488 amends tax code to allow certain taxing units to limit ad valorem taxes on homesteads of disabled or elderly individuals and their.

Texas SB488 amends the Tax Code to allow taxing units other than school districts to establish a limitation on the amount of ad valorem taxes imposed on the residence homesteads of individuals who are disabled or elderly and their surviving spouses. The bill specifies conditions under which the limitation applies, including restrictions on tax increases due to property improvements and provisions for surviving spouses. The changes are contingent on voter approval of a constitutional amendment in 2025.