Cons: property taxes (legislature in session now trying to relieve that problem)
I don't know what this means in terms of dollars and cents, but any relief is welcome relief. 2¢
AUSTIN (KXAN) — After months of trying to reach a deal, leaders of the Texas Senate and House announced proposed legislation for property tax relief on Monday.
Lt. Gov. Dan Patrick and Speaker Dade Phelan released a joint statement detailing the following proposed legislation:
Over $12 billion will be spent on reducing the school property tax rate for all homeowners and business properties.
Every homeowner who homesteads their home (about 5.7 million homeowners) will get a $100,000 homestead exemption.
Non-homesteaded properties, valued at $5 million and under, including residential and commercial properties, will receive a 20% circuit breaker on appraised values as a three-year pilot project.
The legislation will also include savings on the franchise tax for small businesses and create newly elected positions on local appraisal boards.
