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July 12, 2023
Property tax relief a step closer to the November ballot
By Jessica Nohealapa’ahi
The Bandera Prophet
Many Bandera County homeowners had sticker shock after receiving this year’s tax appraisals. Now in the midst of protest season, homeowners are fighting drastic increases and preparing for higher payments.
On July 10, the Texas House Ways and Means Committee - which has the responsibility of raising revenue to finance the Federal Government - unanimously passed HB 2 and House Joint Resolution 2, which provides for $18 billion in property tax relief.
The agreement increases the maximum homestead exemption from $40,000 to $100,000. The bill’s author, Senator Paul Bettencourt, R-Houston, said the average homeowner would save about $1,300 per year.
“Taxpayers win! All residential and commercial real property taxpayers win! 5.72 million Texas homesteaders win! With an eye-popping average 41.5 percent savings of $1,373 year after year!” Bettencourt said in a press release. “It’s a record property tax cut.”
If approved by the Senate and full house on Thursday, Governor Greg Abbott may see the proposal on his desk by the end of the week, which he has publicly stated he would sign. Then, the package will proceed to voters in November as a constitutional election. If it passes, the savings would begin with the 2023 tax year.
"I promised during my campaign that the state would return to property taxpayers at least half of the largest budget surplus we have ever had,” Abbott said in a press release. “Today’s agreement between the House and the Senate is a step toward delivering on that promise. I look forward to this legislation reaching my desk, so I can sign into law the largest property tax cut in Texas history.”
On July 10, the Texas House Ways and Means Committee - which has the responsibility of raising revenue to finance the Federal Government - unanimously passed HB 2 and House Joint Resolution 2, which provides for $18 billion in property tax relief.
The agreement increases the maximum homestead exemption from $40,000 to $100,000. The bill’s author, Senator Paul Bettencourt, R-Houston, said the average homeowner would save about $1,300 per year.
“Taxpayers win! All residential and commercial real property taxpayers win! 5.72 million Texas homesteaders win! With an eye-popping average 41.5 percent savings of $1,373 year after year!” Bettencourt said in a press release. “It’s a record property tax cut.”
If approved by the Senate and full house on Thursday, Governor Greg Abbott may see the proposal on his desk by the end of the week, which he has publicly stated he would sign. Then, the package will proceed to voters in November as a constitutional election. If it passes, the savings would begin with the 2023 tax year.
"I promised during my campaign that the state would return to property taxpayers at least half of the largest budget surplus we have ever had,” Abbott said in a press release. “Today’s agreement between the House and the Senate is a step toward delivering on that promise. I look forward to this legislation reaching my desk, so I can sign into law the largest property tax cut in Texas history.”