Governor Abbott, Lieutenant Governor Patrick, and Speaker Dade Phelan have all publicly called for the state’s record budget surplus to be used in large part toward property tax relief for Texans. The specifics of different proposals will be debated and ironed out as the session goes along, but both chambers have published their own version of property tax relief, summarized below.
Senate
- Total value: $16.5 billion
- Components: Increased homestead exemption from $40,000 to $70,000, additional homestead exemption increase for senior citizens from $10,000 to $30,000, compression of ISD tax rates, increase from $2,500 to $25,000 the personal property exemption for Texas businesses
- Status: The Senate voted unanimously in favor of its property tax relief legislation, sending it to the Texas House
House
- Total value: $17.3 billion
- Components: Lowers appraisal cap from 10% to 5% for homeowners, extends the appraisal cap to commercial property owners, compression of ISD tax rates
- Status: The House Committee on Ways & Means voted in favor of the legislation, 10-1
Advocacy at Work
The Fort Worth Chamber signed onto a coalition letter urging Congress to explore bipartisan permitting reforms to expedite the construction of new infrastructure. A copy of the letter can be found here.
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UPCOMING DATES
- April 4: Fort Worth City Council Work Session, 1 p.m.
- April 6: Last Day to register to vote in May 6 Local Entity Election
- April 7: Government Affairs Committee Meeting
