Texas REALTORS® testified in support of Senate Bill 8 during a hearing of the Senate Committee on Local Government last Saturday.
The legislation, authored by Sen. Paul Bettencourt of Houston, seeks to provide property tax relief by allowing homebuyers to file for homestead exemptions in the year when they purchase the property—potentially saving hundreds of thousands of dollars.
Currently, new homeowners must wait until the following year to file for the exemption.
The Bill passed unanimously out of the committee and then passed the Senate with a vote of 22-0 this week.
Source: TEXAS REALTORS®
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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