A new proposal in Texas could bring down the homestead tax exemption by a decade—lowering property tax bills for those aged between 55 and 65 in the Lone Star State.

Lt. Governor Dan Patrick, a Republican, unveiled a major new property tax proposal on December 11 called Operation Double Nickel, aimed at easing the burden on older homeowners.

Why It Matters

Property taxes are a major source of funding for local governments in Texas and are collected by counties, cities, school districts, and special districts such as hospital or utility authorities. Unlike many states, Texas does not have a state property tax—all property taxes are set and used at the local level.

On average, Texas has one of the higher property tax burdens in the country. The effective property tax rate (meaning the

See Full Page