Senate bills offer a wise approach to Texas tax relief | Opinion
Lt. Gov. Dan Patrick presides over the Senate at the Capitol on the first day of the 88th Legislative Session Tuesday January 10, 2023.The one thing state lawmakers must do this legislative session is provide tax relief for residents. We see signs of the Legislature moving in this direction, but it could sweeten relief by lowering the state sales tax, too.that voters will need to approve in order to increase homestead exemptions. Texas homeowners and businesses would be in line for $16.
. The House bill would provide short-term benefits, but would also trigger disruptive long-term risks. Homeowners could shy away from investing in their homes or upgrading to a new house, and a lower cap would transfer the property tax burden of higher-valued properties to middle-class owners whose homes do not appreciate as much. Finally, cities and school districts could raise tax rates to adjust to appraisal limits, effectively skirting the cap at the expense of property owners.
With the state flush with a $33 billion surplus, lawmakers this session must take advantage of this opportunity to deliver significant across-the-board tax relief to all Texans. The Senate bills are off to a fine start with property tax relief for homeowners.This is a relatively easy fix. Dallas Democratic Sen. Royce West and Edgewood Republican Sen.
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