It is a busy day on the Collin County Appraisal District. Patty Fogleman got here to get her homestead exemption. She simply purchased a brand new dwelling in Josephine. Any enhance to the homestead exemption could be welcome news.
“On a fixed income with social security and my husband’s military pay, it would really help us,” mentioned Patty Fogleman.
It may come from the Texas Legislature.
Lawmakers have constantly been saying property tax reduction is required. This finances cycle, there may be an nearly $33 billion finances surplus. Both the Texas House and Senate have launched finances payments, and every consists of $15 billion for property tax reduction. The Senate says $3 billion is for rising the homestead exemption. Lieutenant Governor Dan Patrick addressed this in his speech at his inauguration.
“The Texas Senate will raise your homestead exemption to $70,000,” mentioned Lt. Gov. Dan Patrick.
That’s $25,000 greater than the present homestead exemption.
“I think that’d be great. You know, property taxes have been going up over the years, and any relief we can get would be wonderful,” mentioned home-owner Micah Roeschley.
The chairman of the House Democratic Caucus needs to see it greater, pointing to the excess and wet day fund.
“I say why stop at 70? That is a good start, I think we can do better than that,” mentioned Texas House Democratic Caucus Chair Trey Martinez Fischer.
Telvin Branch will probably be paying consideration. He is a first-time home-owner who has been in his dwelling for simply over a 12 months.
(*5*) mentioned Telvin Branch.
Both the House and Senate should agree on a finances.
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