The combination of a substantial homestead exemption and property tax compression is a very powerful way to deliver serious property tax relief.
Texas Insider Report: AUSTIN, Texas – Lt. Gov. Dan Patrick issued the following statement earlier today, after the Texas Senate’s unanimous passage of Senate Joint Resolution 1 and Senate Bill 1, their Property Tax Relief efforts introduced by State Sen. Paul Bettencourt ((R-Houston.)
“I have been committed to fighting back against the wave of ever-increasing property taxes since before I held elected office. The combination of a substantial homestead exemption and property tax compression is a very powerful way to deliver serious property tax relief.- READ MORE: 'The Legislature Cannot Retire Until We Achieve the Biggest Tax Cut in the History of Texas,' says Patrick
- "We fought for Texans at every turn, only to see our efforts killed in the Texas House. The Texas Senate did its job, and it is time for the House to do the same.”
"I've been crystal-clear – taxpayers deserve to receive the largest property tax cut in Texas history, and SB 1 delivers on that promise sustainably and responsibly.”
SJR 1 by Sen. Bettencourt is the Constitutional Amendment to approve the Homestead Exemption.
- Voters will make the final decision on increasing the homestead exemption by approving the Constitutional Amendment in November.
- .10 cents of Property Tax "Compression"
- a $100,000 Homestead Exemption for homeowners under 65, and
- a $110,000 Homestead Exemption for homeowners over 65
