HB 3412

Relating to notice of and assistance in filing an application for a residence homestead exemption from ad valorem taxation provided to a home buyer by a title insurance company or title insurance agent in connection with the closing and settlement of certain transactions pertaining to residential real property; authorizing a fee; providing for the imposition of an administrative penalty.

Principle Criteria

Free Enterprise

Property Rights

Personal Responsibility

Limited Government

Individual Liberty

Digest

HB 3412 requires title insurance companies to notify home buyers at closing about their eligibility for residence homestead exemptions from property taxes. The bill mandates that title companies assist buyers in applying for exemptions unless the buyer opts out. It allows title insurers to charge a fee for this service and imposes penalties for noncompliance.

Author (1)

Erin Gamez

Contact the Author

Rep. Erin Gamez

Capitol Phone:

(512) 463-0606

Capitol Office:

EXT E1.510

E-Mail:

[email protected]

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