Finance
In Texas, the homestead ad valorem tax cap for school taxes (ceiling) means a senior homeowner who qualified in 2010 at $3,500 tax will pay in 2024:
A$3,500 regardless of any improvements or market value changes
BNo more than the 2010 assessed amount unless they make improvements or the ceiling doesn't apply to their specific situation✓ Correct
CThe current market value tax without any cap
DZero, since seniors are exempt from school taxes
Explanation
The senior school tax freeze means the senior homeowner's school taxes cannot exceed the amount assessed in the year they qualified (2010), provided they do not make improvements. This protects seniors on fixed incomes from rising school tax bills.
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