Author Topic: Leaders of Texas Legislature set battle lines over property tax relief  (Read 280 times)

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Offline Elderberry

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Houston Chronicle by Jasper Scherer 3/2/2023

The elected leaders of the Texas House and Senate on Thursday slammed each other’s competing proposals for reining in property taxes, establishing an early rift between the two chambers over how to deliver the relief and who should receive it.

Armed with a historic budget surplus, lawmakers offered their first concrete plans this week to make good on the massive tax cuts promised by state leaders for months.

The House proposal would cut in half the existing 10 percent cap on year-to-year appraisal increases and extend the new 5 percent ceiling to all types of property, including businesses. It would also require local school districts to trim their property tax rates, collectively generating what House Speaker Dade Phelan said would be “the largest property tax cut in Texas history.”

The plan diverges significantly from Senate legislation filed Wednesday that would increase the state’s homestead exemption from $40,000 to $70,000, allowing homeowners to shave that amount off the taxable value of their primary residence for school property taxes.

More: https://www.houstonchronicle.com/politics/texas/article/property-tax-relief-plans-texas-legislature-17815850.php