Yes, you read it right! Texans can expect to see a lower tax bill in 2022. This could be the result of the tough political climate. According to Senator Paul Bettencourt, the value of a house that is around $300,000 will be able to save around $200 in 2022, according to Bettencourt’s office, no matter the property tax rate varies in each school district across Texas.
But how?
The money from the state tax surplus will help in reducing the 2022 Texas property tax bill. With that being said, a minimum of at least $2 billion is being expected to be sent to the independent school districts in Texas. The county appraisal districts are expected to reduce the property tax rates for homeowners by 3.3 cents which in turn will help Texans save on their property tax bills.
Why is it happening?
During the last week of September, Governor Abbott added property tax relief to the agenda. As per the information from Texas Tribune, Governor Greg Abbott is said to be facing pressure to pay more attention towards property tax relief.
If the Texas economy sees growth by the month of June, then a median homeowner is expected to at least see a minimum of $300 in tax savings!
To get more property tax reductions for your residential property reach out to O’Connor’s property tax protection program. Yes, O’Connor CAN help you reduce your property taxes!