Subscribe to receive our Floor Reports covering all the action on the Texas House and Senate floor!
Relating to the exemption from ad valorem taxation of income-producing tangible personal property having a value of less than a certain amount.
Estimated Two-year Net Impact to General Revenue Related Funds for SB1449, As Introduced: a negative impact of ($758,845) through the biennium ending August 31, 2023.
SB 1449 would expand the existing ad valorem tax exemption for income-producing tangible personal property, increasing the exemption from property with a taxable value of less than $500 to property with a taxable value of $2,500.
SB 1449 supports limited government, individual liberty, and property rights. The existing exemption has not been adjusted in well over two decades which means the tax has become more punitive over time as the cost of goods increases and the value of the dollar declines. This bill would effectively recalibrate the exemption to adjust for inflation. We support SB 1449.
Read Bill & Check Bill Status