Property Valuation
In Texas ad valorem taxation, a property owner may receive a 'homestead exemption' that reduces their taxable value. For school district taxes, the standard homestead exemption is:
A$15,000
B$40,000 (increased by legislation effective 2023)✓ Correct
C$25,000
D$100,000
Explanation
Texas provides a homestead exemption for school district ad valorem taxes. The exemption was increased to $40,000 effective for tax year 2023 through a constitutional amendment. Additional exemptions are available for seniors (65+) and disabled persons. The exemption reduces the taxable value of the homestead.
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