30-05-2025
Two bills that could raise homestead tax exemptions head to the governor's desk
TYLER, Texas (KETK)- Two bills raising homestead exemptions are headed to Governor Abbott's desk and to voters this November.
'This is real relief for working families, every Texas homeowner will see their exemption raised dramatically,' State Sen. Carol Alvarado (D), Houston, said.
Senate Bill 4 is set to increase the homestead exemption from $100,000 to $140,000 for all Texas homeowners.
'So everybody can get a $40,000 extra exemption,' Smith County Tax Assessor-Collector Gary Barber said.
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Barber explains it could mean more savings for East Texans' property tax bills.
'If you're in Tyler Independent School District and we're using last year's tax rate, see last year's value, a $40,000 increase in the exemption would save you $364 on your tax bill,' Barber said.
The rise in the exemption will be applied to the portion of the bill that goes to local school districts.
'This is only for the schools, the ISD portion of the tax bill, but it just increases that exemption given another additional $40,000,' Smith County Appraisal District, chief appraiser, Carol Ncneil said.
SB 23 is also up for a signature and an election, it would raise the homestead exemption for the disabled and seniors from $10,000 to $60,000.
'Property owners will see an additional exemption come off for the over 65 as well,' Ncneil said
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Local realtor Dee Martin reacts, she believes this will be great for both homeowners and those looking to buy a house.
'That's going to help,' Realtor Dee Martin said. 'It'll enable people to, you know, be able to get into a home maybe that might not be able to otherwise.'
While most are supportive of tax relief for homeowners, some lawmakers think they could have done more.
'Because by only increasing exemptions, it actually puts inflationary pressure on property tax rates,' Rep. Brian Harrison (R), Waxahachie, said.
Next, the bills will be reviewed by the Texas governor. Voters will be asked in November to approve those amendments.
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