HB 2133

Relating to a one-time credit against the ad valorem taxes imposed by a taxing unit on the first property that a person purchases and qualifies as the person's residence homestead and to the effect of the credit on the determination of the taxable value of a school district.

Principle Criteria

Free Enterprise

Property Rights

Personal Responsibility

Limited Government

Individual Liberty

Digest

HB 2133 introduces a one-time ad valorem tax credit for individuals who purchase their first property and qualify it as their residence homestead. The tax credit, capped at $3,000 or 50% of the property taxes owed, is available in the first tax year following the purchase. Applicants must file with their local appraisal district to claim the credit. The bill also provides for adjustments in the calculation of taxable value for school districts to account for the credit.

Author (1)

Salman Bhojani

Contact the Author

Rep. Salman Bhojani

Capitol Phone:

(512) 463-0522

Capitol Office:

EXT E2.906

E-Mail:

[email protected]

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