Plain English Breakdown
The bill text excerpt provided was unreadable (binary PDF data), so verification relied entirely on the Official Bill Summary Text.
Calhoun School Tax Exemption Increase for Older Residents
This law increases the amount of home value that residents aged 65 to 69 in Calhoun can exclude from school district property taxes.
What This Bill Does
- Increases the homestead exemption for school ad valorem taxes from $40,000 to $50,000 for residents between ages 65 and 69.
- Keeps the existing $100,000 homestead exemption for residents who are 70 years of age or older.
- Provides rules for a referendum vote by voters in the City of Calhoun Independent School District to approve these changes.
- Sets requirements for holding elections and provides legal remedies if election laws are not followed.
- Repeals any existing laws that conflict with this new exemption amount.
Who It Names or Affects
- Homeowners in the City of Calhoun Independent School District who are at least 65 years old but younger than 70.
- Voters within the City of Calhoun Independent School District, as they must vote on a referendum to approve the change.
Terms To Know
- Homestead Exemption
- A reduction in property taxes that lowers the taxable value of a person's primary home by a specific dollar amount.
- Ad Valorem Tax
- A tax based on the assessed value of real estate or personal property, such as school district property taxes.
- Referendum
- A direct vote by voters to approve or reject a proposed law or change in policy before it takes effect.
Limits and Unknowns
- The changes only apply if the referendum is approved by voters; otherwise, the previous exemption amounts remain.
- This bill does not specify exactly when the new tax rates will begin after approval, though an effective date of May 14, 2025, is listed for the law itself.