PROP TX-SENIOR FREEZE EXEMPT

Amends the Property Tax Code. In a Section concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that, for taxable year 2007 and thereafter, the amount of the exemption is the equalized assessed value of the residence in the taxable year for which application is made minus the base amount (now, the amount of the exemption is based upon the applicant's household income). Increases the income limitation, in taxable year 2007 and thereafter, from $50,000 to $55,000. Effective immediately.