If voters approve a last-minute legislative deal, Texas homeowners will save $176 on property taxes.
ByFunAsia 19 Oct 2021 09:41 PM 38

Even though lawmakers around four-fifths of the federal COVID relief money available to Texas, the tax relief compromise would get paid out of state surplus. Late Monday, lawmakers enacted a tax relief package to expand homestead exemptions on school taxes, saving the typical Texas homeowner $176 per year.

The agreement reached by House and Senate rulers settled one of the last points of contention for the fund's invoices getting debated in the year's third public hearing, which has primarily get dedicated to reapportionment. The Texas Congressional chart, the most recent redistricting budget, was cleared well before Gov. Greg Abbott received the tax reduction.

Property tax relief, on the other hand, was Lt. Gov. Dan Patrick's goal. The Senate wants to use unspent state funds to buy down school maintenance and operating prices for a year. The House has suggested spending $3 billion from the state's part of President Joe Biden's American Rescue Plan Act to mail $525 cheques to the 5.7 million Texans who claim a homestead exemption.

With time running out — the special session must expire by midnight Tuesday — GOP lawmakers settled on a third option on Monday, permanently increasing homestead exemptions.

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Late Monday, the Senate Budget Committee voted 13-0 to reject Senatorial Draft Resolution 2, a new amendment that raises the homestead tax break for local taxes from $25,000 to $40,000 per year. The bill gets then passed by a vote of 31-0 in the Legislature as a whole. House Speaker Dade Phelan, R-Beaumont, delivered an unusual vote to allow it outright soon after 11 p.m.

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