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Gov. Greg Abbott signs tax-relief package raising homestead exemptions and small-business break
Summary
At a Robeson Ranch event in Denton County, Gov. Greg Abbott signed three measures (HB 9, Senate Bill 23 and Senate Bill 4) that raise homestead exemptions for homeowners and seniors and increase the business personal property exemption; officials said the package is funded from the current budget and proposed constitutional amendments will go to voters in November.
Gov. Greg Abbott signed three measures at a Robeson Ranch event in Denton County that he said will reduce property taxes for homeowners, seniors and small businesses.
"I'm gonna sign, 3 pieces of legislation that lower those taxes," Abbott said, announcing that two bills expand homestead exemptions and a third boosts the business personal property exemption.
The legislation raises the general homestead exemption to $140,000 and increases the exemption for Texans 65 and older and people with disabilities to $200,000, Abbott said. "So for the first $200,000 evaluation of your home, there's not gonna be any school property tax that you have to pay," he told the assembled…
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