SB5 — Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and the protection of school districts against the resulting loss in local revenue.

SB5 — Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district, a reduction in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect the increased exemption amount, and the protection of school districts against the resulting loss in local revenue. · Informed CitizenrySB 5 amends the Tax Code to increase the residence homestead exemption from school district ad valorem taxation from $25,000 to $35,000. It also adjusts the tax limitation for the residence homeste…Open in Informed Citizenry