This spring the 89th Texas Legislature passed several new laws that will increase property tax exemptions, and thus lower property taxes for Texans.  The laws were signed by Governor Greg Abbott recently, but must be approved by the voters in November to take effect.

Senate Bill 4 raises the property tax exemption to $140,000 from the current $100,000.  Senate Bill 23 raises the property tax exemption for senior citizens and certain disabled persons to $200,000 from the current $110,000.  These exemptions apply to School District taxes, but do not apply to City and County property taxes.

House Bill 9 raises the business personal property tax exemption to $125,000 from the current $2,500.  This exemption will apply to taxes from School Districts, Cities, and Counties.

Brett McKibben, Chief Appraiser for the Brown County Appraisal District, provided the following estimates of tax savings for any home with an appraisal value of $140,000 or more.  (Homes with an appraisal value of less than $140,000 will have lesser property tax reductions.)  The savings vary because of the differing tax rates of each school district:

Brownwood ISD:  $386

Early ISD:  $451

Bangs ISD:  $306

Blanket ISD:  $300

Brookesmith ISD:  $313

May ISD:  $290

Zephyr ISD:  372