Senator Bettencourt Files SB 5, Bipartism Legislation to Increase the Homestead

Senator Bettencourt Files SB 5, Bipartisan Legislation to Increase the Homestead
Exemption to $35,000
Legislation increases permanent exemption by $10,000 so taxpayers benefit for as long
as they own the home
Constitutional amendment would let Texas voters give final approval to exemption and
funding mechanism
 
Senator Bettencourt (R-Houston) has filed Senate Bill 5, a top priority of Lt. Governor
Dan Patrick (R-Texas) with a broad group of bipartisan joint-authors, to increase the
state mandated homestead exemption for independent school districts from $25,000 to
$35,000.  Depending on their particular ISD's debt rate, the bill would save the average
Texas homeowner roughly $125. The state last increased the homestead exemption
during the 2015 legislative session. SB 5 is joint-authored by Senators Creighton (R-
Conroe), Flores (R-Pleasanton), Hall (R-Edgewood), Hancock (R-North Richland Hills),
Hinojosa (D-McAllen), Menendez (D-San Antonio), and West (D-Dallas).  "5.37 million
Texas homeowners are eligible for relief under SB 5," stated Senate Committee on
Property Tax Chairman Paul Bettencourt. "I've got a strong group of bipartisan joint-
authors to hear from next."  Senate Bill 5 has joint resolution companion, SJR 71, that
takes the issue to the voters for approval in November.
Senator Pete Flores, "This will help the homeowners of Texas keep their little piece
of the Texas sky."
The Texas Legislature last increased the homestead exemption during the 2015
Legislative Session when they raised it from $15,000 to $25,000.  This increase will be
funded through a mechanism established by SJR 71.
"My constituents have requested relief on their property taxes and increasing the
homeowners exemption is a most equitable way to deliver the relief," added
Senator Jose Menéndez.
Property taxes have been rising across the state at a much faster rate than Texans
ability to pay. A look at property tax levy growth across the major counties in Texas
between 2013 – 2017 shows that Harris County had a 51% increase, Bexar County had
a 37% increase, Dallas County saw a 33% increase and both Tarrant and Travis
counties had roughly an 18% increase. An average homeowner in Houston has seen
their tax bill increase 37% over this time frame while in Dallas an average homeowner
now pays over $5,000 every year in property taxes.
"Everyone knows that property tax bills are rising too quickly around the State,"
added Senator Bettencourt, Chairman of the Senate Committee on Property Tax.
"Increasing the homestead exemption is another step by the Texas Legislature,
as part of an overall package which includes Senate Bill 2, that will bring
meaningful property tax reform and relief for Texas taxpayers."
In addition to serving as the Chairman of the Senate Committee on Property Tax,
Senator Bettencourt also sits on the Senate Finance, Senate Education, and Senate
Higher Education Committees. He serves as Chairman of the Texas Senate Republican
Caucus. This is the final piece of Senator Bettencourt's major legislation for the 86th
Legislative Session.