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Texas lawmakers push to lower senior property tax break age from 65 to 55, saving homeowners $900–$1,000 yearly.
Texas lawmakers are advancing a proposal to lower the age for senior property tax breaks from 65 to 55, potentially benefiting about 3.3 million homeowners.
Known as "Operation Double Nickel," the plan would expand homestead exemptions by $40,000 and freeze school-related property tax valuations for qualifying residents, saving an estimated $900 to $1,000 annually.
Lt. Gov.
Dan Patrick supports the measure as a way to ease financial burdens without eliminating school property taxes, warning that Gov.
Greg Abbott’s push to abolish them could force steep sales tax increases.
The proposal, which would cost about $4 billion biennially, faces political tension as both leaders seek tax relief amid rising property costs.
Los legisladores de Texas presionan para reducir la edad de exención de impuestos a la propiedad de 65 a 55 años, ahorrando a los propietarios de viviendas $900 - $1,000 anuales.