Astin (NexStar) – at the end of the clock in the eighty -eighth legislative session, the property tax dilution was left on the cutting block. Governor Greg Abbott was martyred by failing to pass the property tax exemption as a reason behind many vetoes. Abbott ended with multiple private sessions dedicated to reducing property tax.
On Monday, during the Texas House Roads and means, the President of Morgan Mayer, RR Dallas, announced that there will be no repetition of the last session.
“We have reached an agreement with the Senate in terms of tax relief,” Maer announced from Dais. He just left a pair of bills that increase the house exemption – Senate Bill 4 and Joint Resolution in the Senate 2 Hanging in the committee. “[Senate Local Government Chair Paul Bettencourt, R-Houston will] A committee set an alternative to exempting personal property (BPP) – we will do it at $ 125,000. Then we pass the bills to exempt from Senator Betlinkort as it is. “
Mayer Home Law 9 Initially, I suggested increasing the BPP exemption to $ 250,000 from $ 2,500. The updated Bettencourt version was sent to the Senate Hall with a 9-0 vote on Monday. BPP exemption allows homeowners to delete parts of their property if they are used for their work.
“It is only Monday, but a great start for the small business week in the Capitol! Morganmeyrtx In the committee today, and pass it on unanimous voices 7-0! ” Bettencourt posted on X. “This helps all companies in Texas by increasing the BPP exemption dramatically from $ 2,500 to $ 125,000 – offering approximately $ 2,500 in AVG. Txbiz My appreciation, but especially for small business owners who provide them with their time as well as their money! “
Bettencourt has two loan draft laws currently on the Mayer Committee. SB 4 increases the exemption of General Homestead from $ 100,000 to $ 140,000, which will save home owners in Texas on average $ 363.44, according to Bettencourt. The Senate Bill increases 23 of the additional exemption for the home for the elderly and the disabled from $ 10,000 to $ 60,000. Bettencourt is estimated to have an additional $ 454.30 saving for senior homeowners.