Bill Expanding Homestead Exemption Goes to Gov
Legislation that allows homebuyers to file for homestead exemptions in the year when they purchase the property has been sent to the governor to be signed into law after passing both chambers unanimously.
This bill (Senate Bill 8, authored by Sen. Paul Bettencourt and sponsored by Rep. Morgan Meyer) will provide homeowners with a way to lower their property’s taxable value and save on their property taxes.
Currently, new homeowners must wait until the year after purchasing the property to file for the exemption.
Texas REALTORS® testified in support of Senate Bill 8 when it was initially filed during the first special session earlier this year