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Relating to the exemption from ad valorem taxation of certain property owned by a charitable organization and used in providing housing and related services to certain homeless individuals.
Passage of the bill would expand the exemption that currently applies to property in the City of Austin to include property in Travis County and would remove the requirement that the property be located on or consist of a single campus, which could result in more properties being eligible for the exemption. Expansion of the exemption to include charitable organizations that have been in existence at least two-years would be limited to property located on or consisting of a single campus in Midland. As a result, taxable property values could be reduced and the related costs to the Foundation School Fund could be increased through the operation of the school finance formulas.
HB 115 would revise the bracketing requirements to qualify for an exemption to the the single-campus requirement for a charitable organization to be exempt from ad valorem taxes if they meet certain conditions. The bracketing is primarily designed to apply to a charitable organization providing housing for homeless individuals in the City of Austin.
Texas Action is neutral on HB 115 as it does not affect our liberty principles.