Texas Governor Signs Major Property Tax Relief Bills in Denton
DENTON, Texas (KTRK) — In a significant move to alleviate the financial burden on homeowners, Texas Governor Greg Abbott signed a series of property tax relief bills on Monday, marking a historic step towards easing taxes across the state. The signing event took place in Denton and encompasses approximately $10 billion in property tax relief initiatives.
Among the key provisions is an increase in the homestead exemption, raising it from $100,000 to $140,000. Additionally, the legislation aims to provide even greater relief for vulnerable residents, proposing to elevate the exemption to $200,000 for individuals aged 65 and older, as well as for those with disabilities.
These measures, designed to support Texas families and individuals, will ultimately require voter approval. The proposed constitutional amendments will be featured on the ballot this coming November, allowing residents to have a direct say in their implementation.
Governor Abbott emphasized the necessity of these reforms, stating that they reflect the state’s commitment to helping its residents manage rising costs. The legislation promises to ease financial pressures, particularly for seniors and those with disabilities, ensuring that Texas remains a place where citizens can thrive without the burden of overwhelming property taxes.
As Texans prepare for the upcoming election, the impact of these proposed changes on property taxes will be a key topic of discussion. The Governor’s support reinforces the notion that tangible action is being taken to support homeowners during these economically challenging times.
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