Governor Greg Abbott signed three new tax relief bills into law in a packed room full of local leaders and Robson Ranch residents at the Robson Ranch Clubhouse on Monday.
Two bills passed in this year’s legislative session that addressed the homestead exemption on school property taxes in a way that will provide some relief to Texas homeowners.
Senate Bill 4 will increase the general homestead exemption by $40,000, bringing it up to $140,000.
“When I became Governor, that homestead exemption was $15,000,” said Abbott. “Now, the first $140,000 of valuation of your home will not be subject to the school district property taxes, which is the largest bulk of your tax bill.”
Senate Bill 23 will bring the exemption up to $200,000 for homeowners who are 65 years or older or are disabled.
“We love our seniors,” said Abbott. “And the reality is that more than half of average Texas seniors are not going to pay a school property tax at all after I sign this law.”
The third bill, House Bill 9, will increase the business personal property tax exemption from $2,500 up to $125,000. This includes tables, chairs or computers, which aren’t real estate property, according to Abbott.
“This is particularly helpful to the small businesses out there that will help them meet the cost of rising prices,” he said.
All of the bills will still need to be approved by voters in the November constitutional amendment election. In 2023, voters approved HJR 2, which raised the homestead exemption.
“The amount of money we’re talking about is extraordinary,” said State Representative Paul Bettencourt. “We’re looking at saving the average homeowner $1,750 when you say yes in November. If you’re over 65, that takes you up to $2,342.”
Denton County Precinct 4 Commissioner Dianne Edmondson introduced the governor to the crowd.
“We’re delighted that the governor chose this location for the signing of HB 9, Senate Bill 23 and Senate Bill 4,” she said. “We’re so happy because what [he’s] done for seniors, those that are disabled and the ordinary homeowner, has increased the exemption by a huge amount.”
Congressman Brandon Gill was also at the event to support the signings.
“To have the governor here, especially in Robson Ranch, was incredible,” he said. “We appreciate the governor and all of his work to end a great session with property tax relief – something we can all get excited about.”
Speaker of the Texas House Dustin Burrows was on hand to emphasize the importance of the bills.
“No country, no state, no city and no county can tax and spend their way into prosperity,” he said. “That is why it is so important that we have a low-tax state. When you look at the amount of money we are investing in our budget, it is unprecedented and historic.”
Other local leaders at the event included Denton County Sheriff Tracy Murphree, Representative Ben Bumgarner, Senator Tan Parker and County Judge Andy Eads, among others.
