Homestead Exemption Expansion Bill passes Texas Senate

Homestead exemption expansion bill passes Senate

On Monday, the Texas Senate unanimously passed Senate Bill 8, authored by Sen. Paul Bettencourt of Houston.

This legislation seeks to provide property tax relief by allowing homebuyers to file for homestead exemptions in the year when they purchase the property—providing homeowners a way to lower their property’s taxable value and save on their property taxes.

Currently, new homeowners must wait until the following year to file for the exemption.  What a great "win" for Texas Homeowners!

Texas REALTORS® testified in support of Senate Bill 8 during the first special session.

Information provided by Texas REALTORS®