Texas Sen. Paul Bettencourt, R-Houston, said average Texas homeowner would see more than $350 in savings every year.
TEXAS, USA — Senators want to give Texans another property tax cut.
The Texas Senate unanimously voted to approve Senate Bill 4, chamber’s legislation that would increase the homestead exemption on school district taxes from $100,000 to $140,000.
A homestead exemption is the amount a homeowner can exempt from taxes, in this case to pay for public schools.
Texas Sen. Paul Bettencourt, R-Houston, a longtime advocate for reducing property taxes, said most Texans will see a reduction in their ISD property tax bill of $363.
“But wait. We’re not done yet. We’ve got additional compression, as that goes up, rates come down,” the senator told WFAA on Inside Texas Politics. “That adds another $133. So, the grand total is $496 in savings and that’s pretty significant because 500 bucks is still a good cut, because 500 bucks is 500 bucks.”
The bill now heads to the Texas House, where he plans to politic to get the measure passed in the lower chamber.
While our property values keep going up, Bettencourt said since 2019, lawmakers have lowered the ISD portion of property taxes by 55%, a savings he claims Texans can see and feel.
And the Republican said the exemption is the most powerful tool a tax writer can use.
“The silver-haired Legislature came in and said an increase to $140,000 would keep 80% to 90% of all seniors in the state from paying any property taxes at all. Zero,” Bettencourt told WFAA while making a zero sign with his thumb and index finger.
The senator did acknowledge that there’s still an issue with city, county and special district taxes. He told WFAA lawmakers will soon hold hearings in an attempt to begin addressing those taxes as well.
