House Select Committee Propose Tax Cut Package, Including Relief for Renters and Increased Homestead Exemption

The House select committee on sustainable property tax relief convened on Friday to engage in a productive discussion regarding property tax relief. This meeting comes in the wake of a press conference held by House Democrats on Thursday, during which they unveiled the details of their proposed property tax cut package.

The representatives of the House select committee emphasized their commitment to addressing the concerns of renters and highlighted them as one of their key priorities in the proposed tax cut package. (Photo: Community Impact)

House Select Committee Propose Tax Cut Package

During the press conference, the representatives of the House select committee emphasized their commitment to addressing the concerns of renters and highlighted them as one of their key priorities in the proposed tax cut package, CBS Austin reported.

Their objectives included raising the homestead exemption to a range of $100,000 to $200,000 and implementing a rebate program of up to 10% for renters.

Representative Christina Morales (D-Houston) voiced her concerns, stating, “We cannot ignore the fact that renters have been left out of this conversation from the very beginning.” This sentiment underscores the need for inclusive discussions that take into account the diverse range of individuals affected by property taxes.

READ ALSO: What The Debt Ceiling Deal Means For Student Loan Borrowers

House Select Committee Meeting

In the House select committee meeting held yesterday, presentations were delivered by various organizations, including the Comptroller’s property tax assistance division, the Texas Education Agency, and the Texas Association of Appraisal Districts, among others.

Mike Meyer from the Texas Education Agency focused on school finance and local district tax rates during his presentation. The topics of recapture and tax compression took center stage, as they play a significant role in shaping the tax landscape.

The meeting also shed light on the apparent disparity between the percentage increase in value for homestead and non-homestead properties.

Brent South from the Texas Association of Appraisal Districts highlighted the impact of new construction on this issue, as it contributes to the overall mass appraisal model used.

As the House select committee continues to analyze the information gathered from Friday’s meeting, Representative Christina Morales urged Republican leadership to expedite the resolution of this discussion.

READ ALSO: SNAP Benefits 2023: Changes In Requirements Under New Debt Ceiling Deal