Texas Governor Signs Law to increase Residence Homestead Property Tax Exemption by School Districts

The Texas Governor Oct. 25 signed a law to increase the amount of the residence homestead exemption from ad valorem taxation by school districts. The law includes a measure increasing the mandatory homestead property tax exemption for school districts to $40,000 from $25,000, beginning with the 2022 tax year. The law generally takes effect upon voter approval. [/TX\FINAL\2021R3SB1///, enacted 10/25/21]

Reference: View Bill. View Legislative Information.