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K 40SVR Property Tax Relief Claim for Seniors and Form

K 40SVR Property Tax Relief Claim for Seniors and Form

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And the state's top leaders have reached a deal on property tax relief. Lieutenant Governor Dan Patrick and Speaker of the House Dade Phelan each released statements this morning calling the proposed bill the biggest property tax cut in Texas history. The $18 billion plan will include $12 billion to lower the school property tax rate. It also increases the homestead exemption to $100,000 for all Texas homeowners, plus a three-year test program capping appraisal. Increases for non homestead properties valued at 5,000,000 or less. Lawmakers in both chambers returned to the capital tomorrow afternoon and Governor Greg Abbott said he looks forward to signing it into law.

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