HB4437 - PROP TX-FLOOD HAZARD

Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately.

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Mandate?
Position: No position
Revenue Loss? Yes
Authority Preemption?