Property Taxes

• Provides for an exemption from property taxation for all intangible personal property

• Makes organizations that provide charitable housing and services for persons who are 62 or older in an amount that is not less than 4% of the organization's net resident revenue eligible as charitable organizations for tax exemption status, if they have been in existence for at least 20 years or are under common control with another charitable organization that has been in existence for at least 20 years

• Prohibits chief appraisers from requiring a person allowed a residence homestead exemption to file a new application or confirm the current qualification unless the chief appraiser has reason to believe the person no longer qualifies, has attempted to determine whether the person still qualifies, and delivers written notice to the person that the chief appraiser believes the person may no longer qualify and why

• Creates a school district property value study group to hold a single public meeting to examine the use and effect of the school district property value study in the annual distribution of state aid for public education and develop recommendations on alternative methods for verifying that valuations of complex properties are determined appropriately
• The study group is composed of three House members, including one vice chair, and three Senators, including one vice chair, appointed by the presiding officer of each chamber
• Requires the study group to submit a report by December 1, 2026

• Redefines the "Rate to Maintain Same Level of Maintenance & Operations Revenue & Pay Debt Service" with regard to the I&S rate to be the rate that would provide the minimum dollar amount required to be paid to service the district's debt
• Redefines "Current debt service" to mean the minimum dollar amount required to be expended for debt service for the current year
• Allows a governing body, by a 60% vote, to adopt a rate that exceeds the Rate to Maintain Same Level of Maintenance & Operations Revenue & Pay Debt Service for the I&S rate if the motion to approve such a rate states the Rate to Maintain, the proposed rate, the difference, and the purpose for which the excess revenue will be used

• Prohibits school districts from adopting a tax rate under the disaster exception in a year in which the district held a VATRE that failed

• In the year after the first year a person qualifies for a disabled or elderly homestead exemption, provides that the person shall be taxed at the lesser of the frozen tax levy amount or the amount of tax levied on the homestead by a school district

• Provides for an exemption from property taxation for the first $125,000 of appraised value of tangible personal property used for the production of income, up from an exemption only for personal property valued at $2,500 or less

• Provides for an exemption from property taxation for the full amount of the value of property that arises from the installation or construction of improvements as part of a border security infrastructure agreement or on land subject to an easement for the construction of border security infrastructure

• Provides for an exemption from property taxation for animal feed exempted from sales and use tax

• Provides for an exemption from property taxation for the entire value of the residence homestead of the surviving spouse of a veteran who died of a condition that creates a presumption of service connection under federal law provided the person has not remarried since the death of the veteran

See HB 9

See HB 247

See HB 1399

See HB 2508

• Increases the homestead exemption from $100,000 to $140,000
• Provides additional state aid to offset lost interest and sinking revenue as a result of the increased homestead exemption
• Limits the additional state aid to only that needed for debt service on debt that was issued and on which a payment has been made by September 1, 2025

• Increases the additional homestead exemption for elderly and disabled individuals from $10,000 to $60,000
• Provides additional state aid to offset lost interest and sinking revenue as a result of the increased homestead exemption
• Limits the additional state aid to only that needed for debt service on debt that was issued and on which a payment has been made by September 1, 2025

See SB 4

See SB 23

• Allows teachers to serve as members of the appraisal review board
• Creates a criminal offense of a board member or an employee of a school district communicates with a teacher who is a member of an appraisal review board with the intent to influence the decision by that teacher in their capacity as a member of the appraisal review board