Gov. Abbott to Sign Property Tax Relief Legislation in Denton
Gov. Greg Abbott is set to hold a pivotal bill signing ceremony on Monday at the Robson Ranch clubhouse in Denton, unveiling new tax relief measures aimed at benefiting property owners across Texas. The event, scheduled for 3 p.m., will feature state and local dignitaries, including Denton County Commissioner Dianne Edmondson, state Rep. Morgan Meyer, and state Sen. Paul Bettencourt.
Recently approved by lawmakers, the legislation entails significant property tax cuts, highlighted by an increase in the state’s homestead exemption—from $100,000 to $140,000. The proposal also includes a substantial exemption increase for seniors and residents with disabilities, raising their exemption from $100,000 to $200,000. Following the governor’s approval, these constitutional amendments will be presented to Texas voters in a referendum this November.
Sen. Bettencourt, a champion of the legislation, expressed optimism about high voter engagement in the upcoming election. “This is great news,” he stated, adding that the amendments would provide enduring financial relief for homeowners once ratified.
The $140,000 exemption, outlined in Senate Bill 4, is projected to save average homeowners nearly $500 annually, beneficially impacting their tax bills. Importantly, SB 4 ensures that local school districts’ funding remains stable, with the state compensating for any losses incurred due to the exemption adjustments.
For Texans aged 65 and older and those with disabilities, the increased $200,000 exemption under Senate Bill 23 could yield average savings exceeding $900 annually. The governor’s anticipated signature marks a significant step towards long-term fiscal relief for Texas residents, making property ownership more affordable amid rising housing costs.
Senior Political Writer Karen Brooks Harper contributed to this report.
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