Principle Criteria
Free Enterprise
Property Rights
Personal Responsibility
Limited Government
Individual Liberty
Digest
HB 642 establishes a limitation on ad valorem taxes imposed by school districts on certain residence homesteads following substantial tax increases. If a homeowner has resided in a home for at least 15 years and school taxes increase by 120% or more during that period (excluding improvements), taxes cannot exceed the amount levied in the 15th year. Surviving spouses may also qualify to maintain the cap under certain conditions. The measure provides financial relief to long-term homeowners impacted by sharp school tax hikes​.
Author
Diego Bernal