Austin, TX — Last week, Representative Zwiener (D-Driftwood) filed House Bill 115 to provide meaningful property tax relief to homeowners.
“In Hays County, which is the second fastest growing county in the nation, homeowners are painfully aware of rising housing costs,” Rep. Zwiener said. “When property valuations increase at such a rapid pace, tax bills follow, and homeowners are forced to choose between leaving their homes and other financial sacrifices. Skyrocketing tax bills are unmanageable for homeowners and force many to relocate outside of their community.”
Under current law, a homeowner’s principal residence is eligible for a homestead exemption of up to $25,000. An eligible property can include a separate structure, condominium, or manufactured home.
Despite reforms in 2019 intended to provide relief, most of the benefits of that bill went to commercial property owners, and homeowners’ tax bills continue to skyrocket.
For example, in Hays County, the 2021 average taxable residential value increased more than 13%.
House Bill 115 would double the homestead tax exemption under Section 11.13(b) of the Tax Code from $25,000 to $50,000. This would provide tax relief directly to Texas families who own homes. In House District 45, the savings would range from $260 to $350.