Between the House and the Senate, there's been a lot of talk in the Capitol about property tax relief lately. Faced with a $32 billion surplus before the legislative session, Gov. Greg Abbott said he would support giving Texans "the largest property tax cut in history."
As we've come to expect, both chambers have their own separate proposals.
What's the difference?
Essentially, the Senate's plan calls for raising the homestead exemption from $40,000 to $70,000, as well as allowing seniors and disabled adults to deduct an additional $30,000.
The House, meanwhile, has focused on lowering the appraisal cap from 10 percent to 5 percent and apply it to all properties (residential and commercial).
Both chambers' proposals allocate about $12 billion to new property tax relief, short of the record $14.7 billion tax towards relief issued in 2008.
Groups like Texans for Fiscal Responsibility and the Huffines Liberty Foundation have called on both chambers to increase the amount of money allocated towards property tax relief. But when State Rep. Tony Tinderholt offered an amendment to increased the amount to $20 billion, only 19 members voted alongside him.
The process is not over yet, however.
Now that both chambers have passed their plans, there is expected to be a lot of negotiation behind the scenes on what the final product will look like.
Lt. Gov. Dan Patrick has made it clear the Senate will not approve a plan that lowers appraisal caps, arguing it does little to help people who need relief the most.
“We’re not doing appraisal caps. Period. End of story,” Patrick said at a press conference last week.
It's not only property taxes that have divided the two chambers, however.
Patrick has also called out the House for passing far fewer bills than the Senate this session, as well as not considering any priorities of the Republican Party.
“I’m concerned many Republican priorities will not pass the House at this rate. Proud the Senate has passed 26 of our top 30 priorities already, and we’ll finish next week," Patrick wrote in a Twitter post.
With just 42 days left in the session when both chambers return tomorrow, the chances of those GOP priorities making through the House appear slimmer every day. This week...
Both the House and Senate are scheduled to reconvene at 11 am on Monday.
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
The deal would channel $12 billion to reduce the school property tax rate for homeowners and business properties, increase the homestead exemption, and create a pilot program to reduce taxes on certain residential and commercial properties. The legislation is expected to pass later this week.
After a monthslong standoff among Texas’ top Republicans, state GOP lawmakers finally struck a deal Monday on how to cut Texans’ property taxes.
The $18 billion compromise — which includes more than $5 billion approved for relief in 2021 — between the Texas House and Senate would give increased tax relief for the state’s 5.7 million homeowners and create a tax-credit pilot program for non-homesteaded properties. It would also cut taxes to small businesses and send billions of dollars to school districts so they can cut their tax rates across the board, according to details made public by state leaders Monday.
The proposal must clear both chambers before it heads to Gov. Greg Abbott’s desk.
“Reducing property taxes, providing relief to small-business owners, and reforming our appraisal system will ensure economic growth and prosperity, and this agreement is a significant victory for all Texans,” Texas House Speaker Dade Phelan said.
Lt. Gov. Dan Patrick said the last week of negotiations among himself, Phelan and members of both chambers “made the difference.”
“It has been a long road, but this is a great day for all property owners,” Patrick said. “It may have taken overtime, but the process has produced a great bill for homeowners and businesses.”
According to Phelan’s office, the legislation, expected to be passed this week, includes more than $12 billion to reduce the school property tax rate for homeowners and business properties; an increase to the homestead exemption from $40,000 to $100,000; and savings on the franchise tax for small businesses. It would also include a so-called “circuit breaker” program for residential and commercial properties valued at $5 million and under. The program would be piloted for three years.
The new property tax relief bill, the franchise tax relief bill and the constitutional amendment required to enact the cuts will be filed later Monday, Phelan’s office said in a statement...
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
The deal would channel $12 billion to reduce the school property tax rate for homeowners and business properties, increase the homestead exemption, and create a pilot program to reduce taxes on certain residential and commercial properties. The legislation is expected to pass later this week.
After a monthslong standoff among Texas’ top Republicans, state GOP lawmakers finally struck a deal Monday on how to cut Texans’ property taxes.
The $18 billion compromise — which includes more than $5 billion approved for relief in 2021 — between the Texas House and Senate would give increased tax relief for the state’s 5.7 million homeowners and create a tax-credit pilot program for non-homesteaded properties. It would also cut taxes to small businesses and send billions of dollars to school districts so they can cut their tax rates across the board, according to details made public by state leaders Monday.
The proposal must clear both chambers before it heads to Gov. Greg Abbott’s desk.
“Reducing property taxes, providing relief to small-business owners, and reforming our appraisal system will ensure economic growth and prosperity, and this agreement is a significant victory for all Texans,” Texas House Speaker Dade Phelan said.
Lt. Gov. Dan Patrick said the last week of negotiations among himself, Phelan and members of both chambers “made the difference.”
“It has been a long road, but this is a great day for all property owners,” Patrick said. “It may have taken overtime, but the process has produced a great bill for homeowners and businesses.”
According to Phelan’s office, the legislation, expected to be passed this week, includes more than $12 billion to reduce the school property tax rate for homeowners and business properties; an increase to the homestead exemption from $40,000 to $100,000; and savings on the franchise tax for small businesses. It would also include a so-called “circuit breaker” program for residential and commercial properties valued at $5 million and under. The program would be piloted for three years.
The new property tax relief bill, the franchise tax relief bill and the constitutional amendment required to enact the cuts will be filed later Monday, Phelan’s office said in a statement...
-- excerpt, rest at link above --
Just got in my property tax statement.
Went down 37% from last year.
Hope everyones' did so this is not a mistake on the part of my assessor.
It is reasonable to concur where Conscience does not forbid a Compliance; for Conformity is at least a Civil Virtue. But we should only press it in Necessaries, the rest may prove a Snare and Temptation to break Society. But above all, it is a Weakness in Religion and Government, where it is carried to Things of an Indifferent Nature, since besides that it makes Way for Scruples, Liberty is always the Price of it....William Penn
Ours is down too, but we contested it and got it way down.
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
Unfrozen Cave Water Cooler
0
The Unfrozen Cave
Print view
Thu Jan 19, 2023 10:29 am
reply
