— At this year’s TLTA event, there was a real sense of camaraderie and “Friendship,” which just happens to be the official state motto for Texas. —

Attendance at the recent Texas Land Title Association (TLTA) annual conference in San Antonio was robust, and the energy and enthusiasm were flying high. Despite continued downward pressure on existing home sales on the national level, Texas continues to buck the trend. Much of the optimism was due to the strength of new construction activity, driven by the influx of businesses and “newcomers” into the state. According to data from the U.S. Census Bureau, Texas gained an average of 412,958 new residents annually between 2020 and 2022.

The TLTA event typically presents a wealth of information on legislative and regulatory issues, and that’s by design as the event always follows the legislative session.

Several hot topics were the focus in official event sessions and in our conversations – let’s dive in:

Legislative activity surrounding increasing homestead exemptions

The Texas homestead exemption can help lower property taxes for residents if their home is their primary residence, if they are over 65 years old, or qualify for a disability or veterans status. The Texas Senate unanimously passed a new $18-billion property tax relief bill that would increase these tax exemptions for homeowners, in addition to reducing school district tax rates and cutting taxes for small business owners. The House has followed with its approval and it will go to the governor’s desk next. The plan calls for increasing the homestead exemption from $40,000 to $100,000, placing a cap on appraisal increases for commercial and non-homesteaded properties, and sends billions to school districts so they can cut property taxes. The chief appraiser will prepare supplemental records for 2023 to account for the new exemptions, and tax bills must contain verbiage regarding the new exemptions and tax amounts.

Increased transparency on property tax information

During this year’s session, legislators also proposed making public property tax information, including appraisal review board protests, more readily available via public websites to facilitate public and private research.

New and expanded title plants

In the everything-old-is-new-again category, there was also a significant amount of interest in the new title plants and the recent upgrades and expansions we’ve made in Texas. DataTrace® has opened new geographically indexed title plants in Rockwall county (Dallas/Fort Worth) and McLennan county (Waco) and expanded its data coverage in Nueces and San Patricio counties – part of the Corpus Christi MSA – further solidifying data coverage among its 39 title plants across the state.

At this year’s TLTA event, there was a real sense of camaraderie and “Friendship,” which just happens to be the official state motto for Texas. The positive vibes, handshaking and hugging among friends and colleagues was energizing, giving people a renewed sense of hope and optimism following a tough year.

Check out our recent title plant expansion in
North and Central Texas. Read more.