The Facts About Property Taxes
The main difference between the House and Senate’s 16 to 17 billion dollar property tax packages is a 5% appraisal cap in the House bill versus the Senate bill, which, in a lifetime, (as long as you homestead your home) results in a $100,000 exemption for seniors 65 years or older and $70,000 exemption for those under 65. The Senate’s plan takes effect this year and the House bill will not take effect until 2024.
Some still complain about their appraisals. However, in 2019, we essentially ended the link between the appraisal values you get in the spring and the actual tax bill you get in the fall.
No matter your spring home appraisal value, counties and cities cannot increase their budgets by more than 3.5% and schools by 2.5%. Think of it as a seesaw. The higher the appraised value, the more they must lower the tax rate.
That is why many saw high appraisals last spring, but lower, flat, or smaller increases on their actual fall tax bill. With nearly 6 million homes in Texas, there are always exceptions, but that is what most homes experienced.
Jeremy Wallace from the Houston Chronicle wrote:
“Patrick is right in that reforms passed years ago have made increasing appraisals less of a factor on tax bills. Because of the reforms passed over the last four years, homeowners saw their property tax bills go down for the first time in decades in places like Harris and Bexar counties, despite climbing appraisals. Those reforms included capping how much tax cities and counties could collect, sending more state money to school districts, and raising the homestead exemption.”
The House’s 5% appraisal cap distorts market values and will eventually lead to higher taxes as local taxing entities can raise the rates as high as they wish.
Secondly, seniors already have their appraisals frozen and get no benefit from a 5% cap. Homeowners under 65 whose homes do not go up 5% or more also do not get any benefit under a 5% cap.
Even the Speaker told the Houston Chronicle that, at best, homeowners get about $600 in their plan on a $350K home over 2 years.
The Senate plan’s tax savings are higher than the House’s, does not destroy the housing market and commercial property market like the ‘California’ appraisal cap, and most importantly, are permanent for as long as you homestead your home.
That is why the Texas Realtors Association, various business associations, and tax experts support the Texas homestead property tax cut bill and not the House cap bill.
The Texas Senate is Bringing the Ten Commandments and Prayer Back to our Schools
I will never stop fighting for religious liberty in Texas. Allowing the Ten Commandments and prayer back into our public schools is one step we can take to make sure that all Texans have the right to freely express their sincerely held religious beliefs.
I believe that you cannot change the culture of the country until you change the culture of mankind. Bringing the Ten Commandments and prayer back to our public schools will enable our students to become better Texans. Senate Bill 1396, by Sen. Mayes Middleton, R-Galveston, and Senate Bill 1515, by Sen. Phil King, R-Weatherford, does just that. Both bills passed 17-12 along party lines.
On the Air with Mark Davis Providing Legislative Updates
At the beginning of this legislative session, I laid out the strongest, most conservative agenda ever brought forward in the Texas Senate … and the Texas Senate has delivered. I joined Mark Davis on his program to talk about this, plus other legislative updates. Click here to listen.
The Alamo is Nominated for Best Free Attraction: Vote Now!
The Alamo has been nominated for the best free attraction in America! Let’s work together to ensure this sacred site remains a cherished piece of our state’s history for generations to come and that visitors from around the world can experience its significance. You can vote daily now through May 8th. Click here to cast your vote.
Thank you all for your support and everything you do to keep Texas red. May God bless you and your family, and may He continue to bless the greatest state of all—Texas.
Lieutenant Governor of Texas