Opinion No.

Honorable Ray Farabee Chairman Committee on State Affairs Texas State Senate P.O. Box 12068 Austin, Texas 78711

Re: Whether cooperative housing is entitled to the residence homestead tax exemption under article VIII, section 1-b, of the Texas Constitution and related questions

Dear Senator Farabee:

You ask the following two questions:

1. Are the homes (and stock) of persons who live in cooperative housing entitled to the residence homestead tax exemption provided by article VIII, section 1-b, of the Texas Constitution? In a cooperative housing arrangement, the homeowners purchase stock in a…