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Newspaper
Monahans News
Location
Monahans, Texas, United States of America
Date
Oct 26, 1978
Page
8
The civil statute focused amendments propose sweeping personal property tax relief and new homestead exemptions. It discusses tax base shifts for agricultural and timberland lands and the potential to tax by productive capacity, plus added disability and senior exemptions and the effect on market value calculations and school taxes. The draft notes uncertainties in value measures and the impact on disabled and elderly homeowners.
The amendment details an optional school district exemption up to ten thousand dollars of homestead market value for eligible elderly or disabled residents and a mandatory five thousand dollar exemption. The legislature could allow both exemptions for a single person, or choose not to. A freeze on tax totals applies to those receiving the elderly exemption, with exceptions for certain improvements, and revenue protection for districts is to be addressed via formulas. Continuous coverage continues on page 10.
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