“We can negotiate on just about everything, but I do not negotiate on bad math,” said Lt. Gov. Dan Patrick of the House's appraisal-cap proposal. Story by TexasTribune.
A $12 billion proposal aimed at giving property tax relief to Texas homeowners and businesses cleared a major hurdle Thursday in the Texas House, setting up a showdown with the Senate over their warring tax-cut packages.— backed by House Speaker Dade Phelan and carried by state Rep. Morgan Meyer, both Republicans — passed the full House by a 140-9 vote. It still must come back before the chamber for a final vote.
But HB 2 contains a provision that has drawn substantial criticism from housing experts, business groups and even some tax-cut proponents like Lt. Gov. Dan Patrick who predict dire consequences if it goes into effect. “We want to have the caps so that there’s predictability and stability for our property owners,” Meyer said on the House floor.
Republican leaders in the House and Senate have publicly clashed over the appraisal-cap proposal. In a press conference ahead of the House vote Thursday, Patrick said the idea is dead on arrival in the Senate, arguing it wouldn’t benefit seniors whose appraisals are already capped.Phelan remained defiant.
State Rep. Trey Martinez Fischer, a San Antonio Democrat who heads the House Democratic Caucus, tried to tack on a boost in the homestead exemption that mirrors the Senate’s proposed increase. He also proposed cutting the appraisal cap to 7.5% — instead of 10% — for home and business owners. Another amendment of his would have scrapped the idea of tightening the appraisal cap altogether and instead boosted the homestead exemption to $100,000.
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