Proposing a constitutional amendment to allow Texas political subdivisions to exempt a portion of a residence homestead's market value from ad.

This bill proposes a constitutional amendment to authorize the governing body of a political subdivision in Texas to exempt a specified dollar amount of the market value of an individual's residence homestead from ad valorem taxation. The exemption amount must be at least $5,000. The amendment allows political subdivisions to continue collecting the tax on exempted homesteads if the tax was previously pledged for debt payment, provided that stopping the levy would breach the debt contract. The amendment will take effect starting January 1, 2026, and will expire on January 1, 2027.

Proposing a constitutional amendment to allow Texas political subdivisions to exempt a portion of a residence homestead's market value from ad.

This bill proposes a constitutional amendment to authorize the governing body of a political subdivision in Texas to exempt a specified dollar amount of the market value of an individual's residence homestead from ad valorem taxation. The exemption amount must be at least $5,000. The amendment allows political subdivisions to continue collecting the tax on exempted homesteads if the tax was previously pledged for debt payment, provided that stopping the levy would breach the debt contract. The amendment will take effect starting January 1, 2026, and will expire on January 1, 2027.