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  • State of Texas Texas Senate: Bill Increases The Business Personal Property Tax Exemption From $500 To $2,500

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    Paul Bettencourt
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    SB 762, passed by Senator Bettencourt, increases the business personal property tax exemption from $500 to $2,500. This provides tax relief and reduces paperwork for small businesses. By exempting more business property from taxes, small businesses can save several hundred dollars per year, which is important for their viability. It also reduces the paperwork filed with appraisal districts. The current $500 limit was set in 1995 and had not been updated, while this bill recognizes the current needs of small businesses. According to estimates, around 39,000 businesses in Harris County would see exempted property worth over $37 million under this new law.

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    Senator Bettencourt Passes SB 762 - Providing Tax and Paperwork Relief for Small Businesses

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    PR 15 04 28

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    SB 762, passed by Senator Bettencourt, increases the business personal property tax exemption from $500 to $2,500. This provides tax relief and reduces paperwork for small businesses. By exempting more business property from taxes, small businesses can save several hundred dollars per year, which is important for their viability. It also reduces the paperwork filed with appraisal districts. The current $500 limit was set in 1995 and had not been updated, while this bill recognizes the current needs of small businesses. According to estimates, around 39,000 businesses in Harris County would see exempted property worth over $37 million under this new law.

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    58 views1 page

    State of Texas Texas Senate: Bill Increases The Business Personal Property Tax Exemption From $500 To $2,500

    Uploaded by

    Paul Bettencourt
    SB 762, passed by Senator Bettencourt, increases the business personal property tax exemption from $500 to $2,500. This provides tax relief and reduces paperwork for small businesses. By exempting more business property from taxes, small businesses can save several hundred dollars per year, which is important for their viability. It also reduces the paperwork filed with appraisal districts. The current $500 limit was set in 1995 and had not been updated, while this bill recognizes the current needs of small businesses. According to estimates, around 39,000 businesses in Harris County would see exempted property worth over $37 million under this new law.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    State of Texas

    Texas Senate
    11451 Katy Freeway, Suite 209
    Houston, TX 77079
    (713) 464-0282
    (713) 461-0108 - fax

    PO Box 12068
    Austin, Texas 7871-2068
    512-463-0107
    512-463-8810 Fax

    Paul Bettencourt
    DISTRICT 7

    For Immediate Release


    April 28, 2015

    Contact Information:
    VA Stephens
    (512) 463-0107

    Senator Bettencourt Passes SB 762 - Providing Tax and Paperwork Relief for Small
    Businesses
    Bill increases the business personal property tax exemption from $500 to $2,500
    Austin - Today Senator Bettencourt overwhelmingly in the Senate passed SB 762, (Co-authored by Senators
    Hall, Huffines, Kolkhorst, Van Taylor, and West) which increases the amount of business personal property that
    is exempt from property taxation from $500 to $2,500.
    "Every Texan that owns a small business, is a sole proprietor, LLC or others will love this bill as it saves
    them time and money," said Senator Bettencourt.
    SB 762 provides small business owners with tax relief and paperwork reduction - a big savings in time and
    money. The businesses that will benefit from this legislation are small enough that saving several hundred
    dollars each year may mean the difference between staying open and growing, or going out of business.
    Another important aspect of the bill is that it reduces the paperwork small businesses have to file with the
    appraisal district.
    "This bill was supported by business groups and governmental entities because it will save everyone time
    to process fewer of these business renditions. In the 21st century, we can recognize that saving time for
    small businesses and government is saving tax payers money all around," stated Senator Bettencourt.
    Small businesses form an important part of our state economy, and they need relief from the fiscal and
    administrative burden of paying property taxes on their business personal property. The current limit of $500
    was set in 1995 and has not been increased since. SB 762 updates the exemption to reflect the changing realities
    that face small businesses in the present, and into the future.
    This is real money, not hypothetical. According to the Harris County Appraisal District 39,247 taxpayer
    accounts in Harris County (worth $37,475,518) would be exempt under SB762 almost 40 thousand
    businesses.

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