Buying your first home could earn you a one-time property tax credit, but only if voters approve it
What it does
HB 1130 would give a person a one-time credit against the property taxes on the residence homestead in the first tax year after they buy it, as long as they have never qualified a property as their residence homestead before. The credit would be the smaller of $3,000 times that taxing unit's share of the total taxes on the home, or one-half of the taxes that unit imposes on the home. To get it, you would file an application with the chief appraiser of the appraisal district by the same deadline as a homestead exemption application, and the appraiser's decision could be protested and appealed like a homestead exemption decision. School districts would not have their taxable value reduced by the credits, and the act would take effect January 1, 2028, and only if the constitutional amendment that goes with it is approved by voters.
What it means for your community
The credit would show up as a one-time credit on the tax bill for the year after you buy the home, not as a lower tax rate that keeps going. Because the credit is capped at one-half of what your taxing unit charges, the city, county, or school district that takes the biggest share of your bill would give the largest credit. The constitutional amendment would also reimburse political subdivisions for the revenue they lose, so local budgets would not absorb the hit. If voters turn it down, none of this would happen.
Have an opinion on HB 1130?
Your lawmaker's office counts calls. Find yours and call in under a minute.
Call your lawmaker about HB 1130Free weekly email
Get the Tuesday email
One short, plain-English recap of what the Legislature did last week. Free. Unsubscribe anytime.
We describe legislation. We do not endorse or oppose it. If you spot an error, tell us and we will correct it.