The following news release was received Tuesday from the office of Texas State Representative David Spiller, who represents Brown and other area counties, in Austin.
The Legislature has delivered on its promise to deliver property tax relief to Texans. I am proud to have supported and passed the largest property tax relief in Texas History.
Highlights of the $18 billion tax cut legislation include:
✔️ Over $12 billion will be spent on reducing the school property tax rate for all homeowners and business properties.
✔️ Every homeowner who homesteads their home (approximately 5.7 million homeowners) will get a $100,000 homestead exemption.
✔️ Non-homesteaded properties, valued at $5 million and under, including residential and commercial properties, will receive a 20% circuit breaker on appraised values as a 3-year pilot project.
✔️ Legislation will also include savings on the franchise tax for small businesses and create newly elected positions on local appraisal boards.
As always, my staff and I are available at your disposal. If we can be of any assistance to you or your family, please contact our Capitol Office at 512-463-0526.