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County assessor warns proposed ad valorem changes, larger homestead exemption could cut local revenues
Summary
County Assessor Mike Wilson told BET members on Aug. 12 that proposals under study at the state level to alter ad valorem property taxes and raise the homestead exemption could cut county general‑fund revenue and strain local bonding capacity.
County Assessor Mike Wilson briefed BET members on Aug. 12 about interim legislative proposals discussed at a recent assessors’ conference that could change how ad valorem property taxes and the homestead exemption work statewide. He warned that some proposals under study — including proposals to raise the homestead exemption or otherwise reduce ad valorem collections — could substantially lower county revenue and affect debt capacity.
"You see it in the states of Florida. You're seeing it down in the state of Texas," Wilson said, describing wider interest in changing property…
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