HISD Board of Education votes to continue offering maximum local homestead exemption

The Houston Independent School District Board of Education voted Thursday to give homeowners an additional tax break by continuing to offer a local homestead exemption that goes above and beyond the standard state exemption.

This year, the state Legislature raised the homestead exemption from $15,000 to $25,000 through Senate Bill 1, which is subject to voter approval in November. In addition to the state’s exemption, HISD homeowners take an additional 20 percent off the appraised value of their property, the highest homestead exemption allowed by the state.

Last year, this local homestead exemption saved HISD homeowners more than $134 million in property taxes. That is an additional annual savings of about $667 for the owner of a $278,637 home, which is the average home value in HISD.

Trustees are scheduled to meet again next week to consider the budget for the 2015-2016 school year. The board will meet June 15 to review the budget and again on June 18 to adopt the budget. Trustees must formally approve the budget before it can go into effect for the 2015-2016 school year.