Waiting for Tax Relief? Texas Homeowners Will Get Less Than Expected.
Between the school finance bill that cut property tax rates and the property tax reform bill which limited future growth of them, 2020 is the first year the Legislature’s plan for tax relief kicks in. Last year, lawmakers estimated the former bill would lower school district property tax rates by an average of 8 cents per $100 valuation in 2020. One estimate given at the time showed that for the owner of a $250,000 home, the annual tax savings would be $200 in 2020.