Due in no small part to our involvement, Texans will see significant relief in their property tax bills this October.
We’re Still at the Table!
As the old saying goes, “It ain’t over ’til it’s over.” According to baseball lore, the great Yogi Berra said this about the 1973 National League pennant race. The same is true about the 88th Texas Legislature. With 140 days and two special sessions in the books, this iconic Legislature still has a long way to go. More on that in a moment. One thing you can be sure of is that Texas REALTORS® was there for the ceremonial first pitch, and we will be there for you until the final out of the final inning.
The governor, lieutenant governor, and speaker of the House (respectfully referred to as The Big Three) began the session with a top priority of passing historic property tax relief for Texans. They each had other priorities, too, but tax relief was the centerpiece of the entire session. Different approaches to the issue pitted the Senate against the House and put The Big Three at odds with each other all the way until July. Everyone wanted to provide tax relief for Texans; they just couldn’t agree on how to do it. The Senate wanted to expand the homestead exemption, the House wanted to expand appraisal caps, and the governor expressed his desire to ultimately eliminate school maintenance and operations taxes entirely.
Thankfully, in early July the chambers agreed on an $18 billion tax relief package and sent it to the governor’s desk. Our members and staff were engaged with legislators of both chambers all the way through the process, providing expert witness testimony and valuable research and resources to help everyone work toward sustainable tax relief. It’s because of the relationships we have nurtured over the years and our recognized status as advocates on all matters related to real estate that our voice was heard. Due in no small part to our involvement, Texans will see significant relief in their property tax bills this October. (Read more about the details in the article on page 10.)
So why did I say this Legislature still has a long way to go? There are likely more special sessions to come this fall to take care of business that was pushed to the backburner while working on property taxes. The governor is expected to consider legislation about public improvement districts, property owners associations, and other matters related to real estate and real estate transactions. Many of these topics were in bills that passed during the regular session but were vetoed by the governor.
A huge thank you to all of you who participated in our public policy survey that helped shape our positions for the 88th Legislature. Look for this important survey in your inbox soon as we start the process again for the 89th Legislature in 2025. As with everything we do at Texas REALTORS®, it all starts with you, our members. And rest assured that we will stay involved on these and all issues important to you until the final gavel drops!