Texas legislators draft $10 billion property tax reduction bill boosting senior exemptions

Who's involved

• Texas Legislaturedrafting the bill
• Texas Senate Local Government Committeesource of data on property tax exemptions
• Taylor Scribermillennial Texan commenting on property tax burden

The facts

• Texas property tax exemption for over-65 and disabled would increase from $10,000 to $60,000.^{1 2} Stated by 2 sources
• Combined senior homeowner exemption could crest $200,000, providing yearly savings over $950.^{1 2} Stated by 2 sources
• Approximately 2.1 million homeowners would benefit from the increased senior exemption.^{1 2} Stated by 2 sources
• 39% of statewide homesteads pay zero school district property taxes, including 61% of senior or disabled homeowners.^{1 2} Stated by 2 sources
• Texas relies heavily on property taxes to fund public services and has no state income tax.^{1 2} Stated by 2 sources

Who said what

These are statements and claims made by the people involved. They are reported, not verified.

• Taylor Scriber, millennial homebuyer Group is voting to opt themselves out, leaving younger buyers holding higher tax burden.^{1 2}
• Colton Pace, CEO of Ownwell Transfer of tax burden is happening but is more structural than deliberate.^{1 2}
• Colton Pace Local governments raise property tax rates to maintain budgets when tax base gets frozen or exempted.^{1 2}