SB3012 - Relating to the continuation of a limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes if the property is acquired by and qualifies as the homestead of an heir of the owner or the owner's spouse or surviving spouse.

  89R387 TJB-D     By: Miles S.B. No. 3012       A BILL TO BE ENTITLED   AN ACT   relating to the continuation of a limitation on increases in the   appraised value of a residence homestead for ad valorem tax   purposes if the property is acquired by and qualifies as the   homestead of an heir of the owner or the owner's spouse or surviving   spouse.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 23.23, Tax Code, is amended by amending   Subsection (c) and adding Subsection (c-2) to read as follows:          (c)  The limitation provided by Subsection (a) takes effect   as to a residence homestead on January 1 of the tax year following   the first tax year the owner qualifies the property for an exemption   under Section 11.13. [ The limitation expires on January 1 of the   first tax year that neither the owner of the property when the   limitation took effect nor the owner's spouse or surviving spouse   qualifies for an exemption under Section 11.13. ]           (c-2)     The limitation provided by Subsection (a) expires as   to a residence homestead on January 1 of the first tax year that   none of the following individuals qualify for an exemption under   Section 11.13 with respect to the property:                 (1)     the owner of the property when the limitation took   effect;                 (2)  the owner's spouse or surviving spouse; or                 (3)     the first heir property owner to acquire the   property as heir property from an individual described by   Subdivision (1) or (2).          SECTION 2.  This Act applies only to the appraisal for ad   valorem tax purposes of residence homesteads for a tax year that   begins on or after the effective date of this Act.          SECTION 3.  This Act takes effect January 1, 2026, but only   if the constitutional amendment proposed by the 89th Legislature,   Regular Session, 2025, to authorize the legislature to provide for   the continuation of a limitation on the maximum appraised value of a   residence homestead for ad valorem tax purposes if the property is   acquired by and qualifies as the homestead of an heir of the owner   or the owner's spouse or surviving spouse is approved by the voters.   If that amendment is not approved by the voters, this Act has no   effect.