AUSTIN – The Dallas Morning News reports that a package of property tax cuts for homeowners is on its way to Gov. Greg Abbott — and Texas voters — after two key bills raising the state’s homestead exemption won unanimous final passage Thursday in the Texas Legislature. Lt. Gov. Dan Patrick, who has pushed to raise the state homestead exemption for several sessions, said the state’s top Republicans had no problem hammering out their answer to skyrocketing property taxes. Voters will be asked in November to approve two constitutional amendments — one to raise the exemption from $100,000 to $140,000 and the second to raise it to $200,000 for Texans with disabilities or who are 65 and older. Those amendments were filed with the Secretary of State last week. On Thursday, the legislation enacting those amendments — if they’re approved — was sent to Abbott’s desk.
“I’m looking forward to what I think will be a record turnout by the public,” said Sen. Paul Bettencourt, R-Houston, the bills’ author. “This is great news, because these commitments — once they’re enshrined in the constitution — are going to be there forever.” Abbott, Patrick and House Speaker Dustin Burrows met regularly to discuss the best way to send $10 billion back to homeowners and small businesses, which all three considered a session priority, Patrick said. That comes in stark contrast to the dramatic wranglings of last session, when disagreements between the House and Senate forced two special sessions on the issue before the end of the summer. “The speaker and I came to agreement on this bill, and this amount, pretty much in 15 minutes of conversation and a handshake,” Patrick said. “And that’s the way we like to do business with the Texas House.” The property tax exemptions — which won overwhelming bipartisan support in the Texas House and Senate — will cost the state’s general revenue fund about $3 billion. Another $3.5 billion will pay for reduced school district taxes.
