I was honored to have been re-appointed to Chair the House Ways & Means Committee. As Chair of Ways & Means, I spearheaded the effort to deliver $18 billion to taxpayers in the form of property tax relief- the largest tax cut in Texas history!
The property tax relief legislation compresses school district tax rates by 10.7 cents supplying an additional $7.6 billion of property tax relief for ALL property owners and increased the state’s share of the cost of public education to over 50% for the first time in over a decade. SB 2 also increased the residence Homestead Exemption from $40,000 to $100,000 for approximately 5.7 million homeowners. This means that if you have a Homestead Exemption on your property, the first $100,000 of value is exempted from the taxes that you pay and provides another $4.9 billion of relief for these owners. The landmark legislation also added essential measures to add transparency and accountability to the appraisal process in an effort to shield property owners from runaway appraisals. This includes adding 3 elected members to the Central Appraisal District (CAD) Board of Directors, who will be elected in nonpartisan elections.