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<br />c ~ <br />TEXAS PROPERTY TAX LAWS ANNOTATED 1982 - - <br />This digest contains the constitutional and Property Tax Code provisions <br />relating to property taxation in Texas. In reviewing its contents on residential <br />homestead exemptions the following information was noted. <br />The governing body of the City of La Porte, by local option ~ offer a <br />residence homestead exemption. The exemption is based on a percentage (%) of the <br />market value of the residence homestead of a married or unmarried adult, including <br />one living alone. <br />This exemption is in addition to any other exemptions that are offered. <br />In giving this optional residence exemption, the following points need to be <br />adhered to. <br />(a) The percentage (%) may not exceed forty percent (40%) for the years <br />1982 through 1984. ~ . <br />(b) Thirty percent (30%) for the years 1985 through 1987, and <br />(c) Twenty per cent (20%) in 1988 and each subsequent year. <br />(d) The amount of an exemption authorized may not be less than $5,000.00 <br />unless the State Legislature decides otherwise in one of their <br />general law sessions. <br />(e) If Ad Valorem Tax has been previously pledged for the payment of a <br />debt, the governing body of a City ~ continue to levy and collect <br />the tax against the value of the homesteads exempted until the debt <br />is discharged if the cessation of the levy would impair paying the <br />obligation of the contract by which the debt was created. <br /> <br />