Texas House Representative Morgan Meyer (R) has introduced two new bills aimed at providing significant property tax relief to both homeowners and business owners across the state. House Bill 8 and House Bill 9, filed earlier this week, are part of an ongoing effort by Meyer to reduce the financial burden of property taxes on Texans.
HB 8 proposes a broad reduction in personal property tax rates through “across-the-board rate compression.” This would provide immediate relief by reducing the amount individuals and businesses are required to pay annually. Meanwhile, HB 9 seeks to increase the personal property tax exemption for businesses up to $250,000. This measure aims to support local businesses by lowering their tax liability.
Rep. Meyers, in a statement, emphasized the importance of addressing the concerns of voters. “I’ve spoken with thousands of voters who were crystal-clear in their concerns: property tax rates are exploding, and they need relief,” he said. “We must put money back in the hands of Texans.”
Lawmakers have promised to address the state’s high property taxes. Governor Greg Abbott (R) has declared property tax relief as an “Emergency legislative item” for the Texas Legislature, allowing lawmakers to fast-track legislation.
“This session, the Texas House is taking action to reduce Texans’ property tax burden and keep our state the best in the nation for starting and growing a business.” House speaker Dustin Burrows (R) said in a statement.
The introduction of these bills has marked a significant step by lawmakers in addressing one of the state’s most pressing issues. Both bills have entered the legislative process and are waiting to be referred to the committee.
