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Yenny Mattei

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Texas lawmakers pass property tax cut for new homeowners. Next: Relief for seniors and the disabled.

September 21st, 2021



The estimated 250,000 Texans who buy new homes each year that qualify for homestead exemptions will soon become immediately eligible to receive the property tax breaks, instead of having to wait until January of the next year, under a bill headed for Gov. Greg Abbott’s desk.

Senate Bill 8, which lawmakers expect to generate about 50 million in annual savings for new homeowners, passed the Texas House on Friday without any opposition, becoming the first measure to hit the governor’s desk since he called lawmakers back to Austin in July. It is set to take effect Jan. 1.

A second, more expansive tax proposal would extend the Legislature’s 2019 cuts on school property tax rates to elderly and disabled homeowners, providing a rare decrease in their annual bills. That measure, SB 12, is expected to reach the governor in the coming days. It would take effect in January 2023 if voters approve a constitutional amendment authorizing the tax cuts in next year’s May local elections.

Source: www.houstonchronicle.com

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