Texas Property Tax amendment would increase tax exemption and decrease or limit non-homestead tax properties.
The Lawmakers finalized the amendment and adoption of the Texas Property Tax
The Texas Property Tax Amendments are the following:
- Increase the homestead Texas Property tax exclusion from $40,000 to $100,000.
- Authorize the state lawmakers to limit the yearly appraisal increase on non-homestead properties;
- Increase Texas education funding from appropriations limit; and
- Authorize the lawmakers to provide for four-year terms governing the body of an appraisal entity in the population of 75,000 or more of the counties.
Texas last voted to increase the homestead Texas Property tax exemption from $25,000 to $40,000 in May 2022.
After the state lawmakers did not adopt the Texas Property tax plan during the regular lawmakers’ session that adjourned last May 29, Governor called a special legislative session to finalize the Texas Property tax plan.
The Texas Property tax plan amendment passed by a vote of 132-5 in the House Lawmakers.
In Senate, the Texas Property tax plan amendment passed by a vote of 31-0.
Five Democrats voted against the Texas Property tax plan amendment in the House.