HB1271: Gainesville, City of; ad valorem taxes; educational purposes; provide new homestead exemption

Legislative Summary

A BILL to be entitled an Act to provide for a new homestead exemption from City of Gainesville independent school district ad valorem taxes for educational purposes in an amount equal to the amount by which the current year assessed value of a homestead exceeds the adjusted base year assessed value of such homestead; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, and automatic repeal; to provide for mandatory execution of election and judicial remedies regarding failure to comply; to repeal conflicting laws; and for other purposes.