Bill > HB2133

This bill introduces a one-time tax credit for first-time homeowners purchasing their primary residence homestead. Under the proposed legislation, eligible individuals can receive a tax credit in the first year after purchasing their home, with the credit amount being the lesser of either: (1) $3,000 multiplied by a fraction based on the specific taxing unit's portion of total taxes, or (2) half of the taxes imposed on the residence homestead by that taxing unit. To qualify, homeowners must file an application with the chief appraiser, including an affidavit confirming their eligibility, by the deadline for filing a homestead exemption. The credit can only be used once, and the chief appraiser will approve or deny the application, with the option for protest or appeal. Additionally, the bill includes a provision that allows school districts to be reimbursed for revenue lost due to these credits by adjusting the taxable value calculation. The bill is contingent upon voter approval of a related constitutional amendment and is set to take effect on January 1, 2026, applying only to ad valorem taxes for tax years beginning on or after that date.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2133