Candidates, property tax on town hall agenda | News

There will also be a discussion concerning the property tax in the state led by Dr. Pam Anglin, president of Paris Junior College, and Leslie Watson, Leslie Watson, Assistant Superintendent of Personnel and Student Services.

In a recent special session of the Texas Legislature, both the Senate and the House passed new rules governing the state’s property tax. The governor signed them into law Saturday.

According to the lieutenant governor’s office, the passage of Senate Bill 2 increases the homestead exemption to $100,000 for homeowners under age 65 and to $110,000 for homeowners over age 65. The average home value in Texas is $330,000, and a homeowner living in that home will receive a yearly permanent tax cut of $1,250 to $1,450 as long as they live in a homestead property. Over the life of a typical 25-year mortgage, homeowners could save between $25,000 and $30,000.

The homeowners exemptions must be approved by the electorate in the Nov. 5 election.

Rep. VanDeaver said he was glad that the property tax package was on its way to becoming law. He issued a news release earlier this month expressing his satisfaction with its passage.

“I am pleased with the final property tax relief package adopted today by the legislature. Though it took longer than anyone wanted, this $18 billion tax relief plan gives Texans the largest property tax cut in our state’s history.”

Those who arrive early to the fairgrounds can participate in a meet and greet that begins at 6:30 p.m. and enjoy ice cream that will be available for purchase from a vendor’s truck.