Texans for Fiscal Responsibility has issued the following vote notice for February 11th, 2025
Texas House of Representatives
None
Texas Senate
Subject: Senate Bill 4 (SB 4) – Property Tax Relief, Raising the Homestead Exemption
- Author: State Sen. Paul Bettencourt (R-Houston)
- Caption: Relating to an increase in the amount of the exemption of residence homesteads from ad valorem taxation by a school district and the protection of school districts against certain losses in local revenue.
- TFR Position: SUPPORT/AMEND
- Background:
- As proposed, SB 4 seeks to provide property tax relief to homeowners by raising the homestead exemption from $100,000 to $140,000, costing roughly $3 billion out of the $24 billion State surplus over the biennium. Included in the bill is a provision that the state will make up any funding deficit a school district might incur as a result of this exemption increase, including Interest & Sinking (I&S). The relief provided by raising the homestead exemption tends to only provide temporary relief (since the exemption loses its value over time as property appraisals continue to rise and local spending increases) and shifts the tax burden to other taxpayers. Nonetheless, TFR supports SB 4 to provide some relief to homeowners. SB 4 should be amended, however, to expand relief through rate compression which provides longer term relief to all property owners, and provide a majority of the State’s surplus back to taxpayers.
Reminder: Vote Notices are provided to both Texas state lawmakers and the general public, sharing Texans for Fiscal Responsibility’s position on issues to be rated as a part of the Fiscal Responsibility Index. Notices are provided prior to votes being taken in each legislative chamber.
Disclaimer: We reserve the right to consider amendments to legislation that may be introduced without notice as a part of issues to be rated on the Fiscal Responsibility Index. We will make every effort to provide notice on amendments that are pre-filed.
