Texas Senator Paul Bettencourt has announced he's filed a bill to raise ISD homestead property tax exemption limits in the state.
Senator Paul Bettencourt has announced he's filed a bill to raise ISD homestead property tax exemption limits in the state.
Officials says SB 3 and SJR 3 will increase the Homestead Exemption amount from $40,000 to $70,000 if approved by the voters. The history 75% increase in SB 3 will provide an additional $341 in savings on a Texas homeowner's school tax bill at the statewide ISD average tax rate of $1.136 each and every year.
"The fact that unanimously every Senator in the Texas Senate signed on to these Lt. Governor Dan Patrick priority bills, speaks volumes about the Senate’s commitment to property tax cuts. This bill will save every homestead $341 a year on top of the existing exemption, $454, totaling $795 per year in these exemptions, driving down property tax bills," Bettencourt said in a release.
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