Gov. Greg Abbott is scheduled to hold a bill signing ceremony Monday in Denton for legislation approved recently by state lawmakers that aims to provide tax relief for property owners.<\/p>\n
According to a news release from the governor\u2019s office, Abbott will be joined at the Robson Ranch clubhouse by a host of local and state dignitaries, including Denton County Commissioner Dianne Edmondson; state Rep. Morgan Meyer, a University Park Republican; and state Sen. Paul Bettencourt, R-Houston, for the 3 p.m. event.<\/p>\n
A package of property tax cuts for homeowners was sent to Abbott after two key bills were approved during the recently completed legislative session by state lawmakers that raised the state\u2019s homestead exemption.<\/p>\n
Once the governor signs the legislation, Texas voters must still endorse the proposal in November.<\/p>\n
Political Points<\/p>\n
Related: Property tax cuts head to Gov. Greg Abbott \u2014 and to voters in November<\/p>\n
The bills would approve two constitutional amendments: one that would raise the exemption from $100,000 to $140,000 and a second measure that would raise the exemption to $200,000 for state residents with disabilities or those who are 65 and older.<\/p>\n
After the bills were approved, Bettencourt, who introduced the legislation, said: \u201cI\u2019m looking forward to what I think will be a record turnout by the public. This is great news, because these commitments \u2014 once they\u2019re enshrined in the constitution \u2014 are going to be there forever.\u201d<\/p>\n
The $140,000 exemption in Senate Bill 4, which would apply to all homeowners, would save an average of nearly $500 in taxes per year when combined with the lower school district taxes in the state budget, Bettencourt said.<\/p>\n
SB 4 includes a provision guaranteeing school districts would not lose funding because of the higher exemption. The state would make up the difference.<\/p>\n
Seniors and Texans with disabilities, whose exemptions are raised to $200,000 in Senate Bill 23, would see average savings of more than $900 between the exemption and the school taxes, officials have said.<\/p>\n
The proposed tax relief for property owners in Texas is a significant step towards reducing the financial burden on homeowners. With the governor\u2019s signature and the endorsement of Texas voters, the legislation is expected to bring substantial savings for homeowners across the state.<\/p>\n
Senior Political Writer Karen Brooks Harper contributed to this report.<\/p>\n
Q: What is the current homestead exemption in Texas?<\/p>\n
A: The current homestead exemption in Texas is $100,000.<\/p>\n
Q: How much would the exemption increase under the proposed legislation?<\/p>\n
A: The exemption would increase to $140,000 for all homeowners and $200,000 for state residents with disabilities or those who are 65 and older.<\/p>\n
Q: How much would homeowners save under the proposed legislation?<\/p>\n
A: Homeowners would save an average of nearly $500 in taxes per year, while seniors and Texans with disabilities would save over $900.<\/p>\n
Q: Do school districts lose funding under the proposed legislation?<\/p>\n
A: No, the state would make up the difference to ensure that school districts do not lose funding due to the higher exemption.<\/p>\n","protected":false},"excerpt":{"rendered":"
Property Tax Relief for Homeowners in Texas Gov. Greg Abbott is scheduled to hold a bill signing ceremony Monday in Denton for legislation approved recently by state lawmakers that aims to provide tax relief for property owners. According to a news release from the governor\u2019s office, Abbott will be joined at the Robson Ranch clubhouse […]<\/p>\n","protected":false},"author":12,"featured_media":7600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-7599","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"jetpack_featured_media_url":"https:\/\/dmn-dallas-news-prod.cdn.arcpublishing.com\/resizer\/v2\/L3ZWND5QY5GDHB5A2UCXWUGTR4.JPG?auth=7e7e797ddb7b24589538d51beef00b3675e9a4ea338fd517a6826a7e9007488e&height=630&width=1200&smart=true&quality=80","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/7599"}],"collection":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/comments?post=7599"}],"version-history":[{"count":1,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/7599\/revisions"}],"predecessor-version":[{"id":7601,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/posts\/7599\/revisions\/7601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/media\/7600"}],"wp:attachment":[{"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/media?parent=7599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/categories?post=7599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citystuff.com\/dallas\/wp-json\/wp\/v2\/tags?post=7599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}