Senate Bill 3: Testimony Before the Senate Finance Committee

March 15, 2023
TFR Staff
88th Legislative Session, Homestead Exemption, Property Tax, Senate Finance Committee

Tim Hardin is the President/CEO of Texans for Fiscal Responsibility.

Senate Bill 3: Homestead Exemption Increase

The Texas Senate Finance Committee considered Senate Bill 3 or Lt., Gov. Dan Patrick’s legislative priority related to increasing the homestead exemption from $40,000 to $70,000.

Texans for Fiscal Responsibility (TFR) testified as neutral on the legislation as increasing the homestead exemption only benefits those who claim a homestead while also shifting the burden to other taxpayers. It also does not provide property tax relief in the form of compression which TFR believes is a superior approach and TFR remains concerned it does not provide a path to an elimination of the tax itself.

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