Both the state House and Senate want to use billions to offset taxes, but one would use appraisal caps and the other homestead exemptions.
Both chambers of the Texas Legislature have drawn up multibillion dollar plans to cut property taxes, each with a different approach.Leaders of Texas Legislature set battle lines over property tax relief
Leaders in the two chambers are heralding their proposals as historic, much-needed pieces of property tax relief. But each approach — funded by a massive state budget surplus mostly fueled by sales taxes and taxes on oil and gas — would give bigger slices of the pie to different groups.
The plan has is opposed by a wide range of critics, from Lt. Gov. Dan Patrick and state Sen. Paul Bettencourt — conservative Republicans who are spearheading the Senate’s property tax package — to groups like Every Texan, a progressive think tank.appraisal caps benefit wealthier homeowners the most, because"higher-value homes have historically tended to appreciate in value faster than other homes.
“I think the intentions of the House are good, but that would be a disaster and undo everything we’ve done that has brought this property tax relief,” said Patrick,What are the main arguments for and against raising the homestead exemption? Critics say that raising the homestead exemption would help only homeowners, leaving out renters who typically have lower incomes. House Republicans also contend their bill would provide more durable relief.
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