US EditionTexas homeowners could see lower property tax bills if deal from Republican lawmakers passes
- Texas House and Senate lawmakers brokered a deal on May 5, 2025, aimed at lowering property taxes for Texans across the state.
- The deal follows previous disputes over tax cuts, with Republican leaders Paul Bettencourt and Morgan Meyer proposing increases to homestead exemptions and inventory tax relief.
- The package includes raising the homestead exemption from $100,000 to $140,000, adding targeted breaks for older and disabled homeowners, and boosting business inventory exemptions up to $125,000.
- Texas legislators are set to allocate $51 billion over the next two years toward reducing property taxes, with calculations indicating that a homeowner of a $302,000 property could see savings of more than $500 on their school taxes in 2024.
- The deal still awaits approval from both chambers, and its implementation may shift tax burdens to local governments, raising concerns about long-term affordability of these cuts.
17 Articles
17 Articles
Tax rate election seems likely this November - Austin Monitor
During the City Council Audit & Finance Committee meeting Tuesday, Kerri Lang, director of the city’s budget office, laid out the steps the city would take in deciding whether to submit a request to voters for a property tax increase… The post Tax rate election seems likely this November appeared first on Austin Monitor.
Big three leaders in Austin say state lawmakers have tax cut deal
Major Republican leaders in Austin have struck a deal on how to spend part of their budget surplus. They aim to pay down property and business taxes for millions of Texans. Monday night, Gov. Greg Abbott announced the framework of a deal online, posting pictures with Senate and House finance leaders. “We have reached an agreement with the Senate as it relates to tax relief,” said Rep. Morgan Meyer, R-University Park, chair of the powerful House …
The High Cost of Texas' Property Tax Cut-and-Run Politics
Once again, the Texas Legislature is entering the final stretch of its session and, once again, Republicans’ high-profile promise to deliver property tax cuts to the landed masses still hangs in the balance. In 2023, the two chambers squabbled over differing approaches to providing such relief—tax compression for the House and increasing the homestead exemption in the Senate—before, after two special sessions, finally striking a $13 billion dea…
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