Speaker of the Texas House Dade Phelan announced today that House Bill 2, which would provide meaningful, lasting property tax relief, is a priority for the chamber this legislative session and was filed this afternoon by Representative Morgan Meyer.
House Bill 2, also known as the Property Tax Relief Act, would lower school district property taxes by 28% and reduce the limit on annual appraisal increases to 5% for all types of property in the state, shielding homeowners, small business owners and other property owners from sudden increases in values to their property that are oftentimes unsustainable. House Bill 2 would result in the largest property tax cut in Texas history, saving homeowners in the state $460 on their annual property tax bill in 2024, which would grow to $590 in 2025.
Representative Meyer also filed House Joint Resolution 1, which would put House Bill 2 on the Texas ballot if passed by the Legislature, leaving it up to voters to decide whether it is adopted as state law.
“Skyrocketing property taxes have become unaffordable for too many residents in this state, and I thank Representative Meyer for filing legislation that would bring real relief to Texas taxpayers by making much-needed improvements to the state’s appraisal system,” Speaker Phelan said. “This bill is a great building block for our state to continue to thrive, and I look forward to the Texas House passing House Bill 2 this legislative session.”
Additional legislative priorities of the Texas House will be announced in the coming days.
