H.B. No. 382 amends the Texas Tax Code to provide an exemption from ad valorem taxation for the total appraised value of residence homesteads owned by individuals aged 72 or older, as well as their surviving spouses. The bill introduces new subsections (s) and (t) to Section 11.13, which specify that individuals who are 72 years of age or older and have held a homestead exemption for at least the preceding ten years are eligible for this exemption. Surviving spouses can also qualify if they are at least 55 years old at the time of their spouse's death and continue to use the property as their residence homestead. The bill clarifies that these exemptions will be effective from January 1 of the tax year in which the individual qualifies and allows for automatic renewal of the exemption in subsequent years without the need for reapplication.

In addition to the tax exemptions, the bill includes amendments to the Education Code and Government Code, requiring school districts to provide detailed comparisons of tax levies and information on average market and taxable values of residences. It also mandates the inclusion of statements regarding tax increase limitations for individuals aged 65 and older. Starting with the 2026-2027 school year, school districts may receive additional state aid if their revenue for servicing debt falls below amounts available under previous laws prior to the exemptions. The provisions of this bill will take effect on January 1, 2026, contingent upon voter approval of a related constitutional amendment.

Statutes affected:
Introduced: Tax Code 11.13, Tax Code 11.42, Tax Code 11.43, Tax Code 26.10, Tax Code 26.112, Tax Code 33.01, Education Code 44.004, Education Code 46.071, Education Code 48.2543 (Education Code 44, Tax Code 26, Tax Code 33, Education Code 46, Education Code 48, Tax Code 11)