AUSTIN – Texas State Rep. Ryan Guillen recently announced up to an estimated 10 percent cut in the school property tax rate, providing immediate relief to Duval County taxpayers.
"Property taxes are growing out of reach for many Texans and they're causing families to lose their hard earned property," explained Guillen. "Homeownership is vital to our economy and to the American dream, and this tax cut will provide real relief to those taxpayers."
Currently, taxpayers are suffering. As local property values have risen, the state share of school funding has decreased. Under this new legislation, the state must increase their share of school funding, allowing for a cut in school property taxes.
Specifically, school property tax rates will be reduced in Freer Independent School District by an estimated 11 cents, 9.4 percent, per $100 of a home’s value in 2020 and a further one cent in 2021, reducing it by an estimated total of 10.26 percent. Additionally, school property tax rates will be reduced in Benavides ISD, San Diego ISD and Ramirez CSD by an estimated seven cents, 6.73 percent, per $100 of a home’s value in 2020 and 2021.
For the owner of a $100,000 home in Freer ISD, that would amount to a decrease of about $110 in 2020 and another $10 in 2021, for a total of about $120 per year after 2021. For the owner of a $100,000 home in Benavides ISD, San Diego ISD and Ramirez CSD, that would amount to a decrease of about $70 in 2020 and 2021.
The reduction amount is generated by taking the 2018 tax rate and reducing it by applying the state compression percentage of 93 percent, meaning school property taxes across the state will decrease by a minimum of seven cents.
"We must continue to find ways to provide Texas families with real property tax relief and help keep homeownership and the American dream alive in Texas," said Guillen.
Every year, millions of Texans are fighting increases in the appraised value of their homes, and without state intervention their taxes will continue to rise. That’s why Guillen believes this legislation is extremely important to provide assistance to lower those rates and allow Texas families the chance to thrive amongst rising appraisal values. With a long history of fighting for property tax relief in Texas, Guillen will continue to make real property tax relief a top priority in the Texas legislature.