Proposed legislative bill could cut school property taxes for a year

Published: Nov. 15, 2022 at 5:43 PM CST
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LAREDO, TX (KGNS) - Texas lawmakers won’t be heading to the state capitol for the new legislative session until January, but many already got a head start.

Hundreds of bills were filed on Monday all pertaining to an array of matters including one bill that is expected to help taxpayers.

State Representative Richard Pena-Raymond filed a bill proposing to cut school property taxes to make it easier on property owners.

The bill that was introduced on Monday states that if you are a homeowner whose property is valued at $360,000 or less and if the bill passed, you would not have to pay school property taxes for the year of 2024.

Raymond said he introduced the bill because the state will have a surplus of over 40 billino dollars next year.

He said 20 billion of that could go to Texas school districts.

The surplus comes from sales tax along with oil and gas.

Raymond said he’s very optimistic that this bill will pass during the upcoming legislature.

“I think it’s significant and it also shows that we need to meet more than an investment at a state level in our public education but doing that we can then cut taxes at the property level,” said Raymond. “I think people in Laredo need it, they need this help, but others in the state also do need it. It would be the largest property tax cut in the state of texas and I’m excited about it.”

The legislative session will start on Jan. 10.

He hopes both political parties do reach an agreement on it.

Just a reminder, some people may pay one, two or even up to three tax entities.

One is the City of Laredo, the second is Webb County, and the third is your closest school district and or Laredo College.

If the bill passes, Raymond said he will work to lower more property taxes from other governmental agencies.

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