House Ways and Means Testimony: The state must continue to relieve the burden of local property taxation.

House Ways and Means Testimony: The state must continue to relieve the burden of local property taxation.

On September 26, 2016 TCCRI submitted written testimony before the House Committee on Ways and Means regarding local property taxes.

Summary of Recommendations: 

Recommendation 1: Change the homestead exemption from a flat $25,000 to a permanent 25 percent exemption based upon the median home value in Texas. 

This proposal was the essence of the filed version of SB 1 at the outset of the 84th session. Each year the flat, fixed dollar amount homestead exemption remains unchanged, its impact is felt less by homeowners. If the exemption was linked to the median home value in Texas then the tax relief provided by the exemption would be protected over time, thus strengthening this nominal tax relief provided to homeowners.

 

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