Member's Page

Rep.Springer, Drew

member image

REPRESENTATIVE DREW SPRINGER FILES TEXANS' HOMESTEAD EXEMPTION ACT  print page

by: Rep. Springer, Drew
03/04/2019

Austin, Texas - State Representative Drew Springer filed House Bill 2915 which will bring immediate relief to property owners in the state of Texas.

HB 2915 creates an additional 50% maintenance and operation (M&O) homestead exemption and compresses M&O tax rates by $0.10. By increasing the sales tax base, the state will pay its fair share toward public education while locals will see their share reduced. The state's share for education funding will increase from 38% to 50% and locals' share will decrease from 50% to 38%.

"I am proud to author the Texans' Homestead Exemption Act which will put $1,400 in the average homeowner's pocket. Property taxes in Texas have been a burden on Texas families, especially homeowners, for far too long," said Springer.

Expanding the sales tax base through eliminating specific loopholes, exemptions, exclusions, and incentives lowers the reliance on Robin Hood, dropping school districts subject to recapture from 221 to 164, a 26% reduction. The amount paid by those still subject to Robin Hood will also be reduced. Texas businesses are not left out of this plan and will see major savings in the form of a 100% tax exemption on commercial retail inventory. The compression of M&O tax rates by $0.10 helps all Texans.

"I look forward to working with the Senate, executive offices, and my fellow House Members to agree on a final plan that fully funds a 50% homestead exemption, meaningful business tax relief, and M&O rate compression without raising the sales tax rate, enacting new taxes, or reducing school district funding," said Springer.

For further details on the additional 50% residence homestead exemption, compression of M&O tax rates, and the expanded sales tax base, see the attached document.

CONTACT
Jennifer Harris

Contact Info

Email

Capitol Address:
District Address:

Room E2.602

P.O. Box 2910

Austin, TX 78768

(512) 463-0526

(512) 463-1011 Fax

406 E California St
Gainesville , TX 76240-4102
(940) 580-1770