July 12, 2023

In This Issue:

  • Speaker and Lt. Gov. Announce Deal on Property Tax Relief
  • ICYMI: TDI Issues Call for 2022 Agent Statistical Data; Responses Due by Aug. 21
  • Harris County to Investigate Houston-based Title Company

Speaker and Lt. Gov. Announce Deal on Property Tax Relief

TLTA | July 10, 2023
Texas Lieutenant Governor Dan Patrick and Speaker Dade Phelan issued a joint statement earlier this week to announce an agreement on proposed legislation to reduce property taxes.
 
According to the press release, highlights of the $18 billion tax cut legislation include:
  • Over $12 billion will be spent on reducing the school property tax rate for all homeowners and business properties.
  • Every homeowner who homesteads their home (approximately 5.7 million homeowners) will get a $100,000 homestead exemption.
  • Non-homesteaded properties, valued at $5 million and under, including residential and commercial properties, will receive a 20% circuit breaker on appraised values as a 3-year pilot project.
  • Legislation will also include savings on the franchise tax for small businesses and create newly elected positions on local appraisal boards.
 
Both the omnibus property tax relief bill and the franchise tax relief bill will originate in the Texas Senate and the constitutional amendment will be introduced as a House Joint Resolution (HJR).
 
Download the press release »
Read the Governor's response to this announcement »
Review coverage from The Texas Tribune »
 

ICYMI: TDI Issues Call for 2022 Agent Statistical Data: Responses Due by Aug. 21 and Announces Address Change

TLTA | June 30, 2023
The Texas Department of Insurance issued a call for agent statistical data on Jun. 29 to each agency in Texas in accordance with Texas Insurance Code §2703.153, which requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit certain data to TDI. TDI uses this data to set title insurance premium rates.
 
Please note that this call is for data collected during calendar year 2022. You must respond to this data call using the provided instructions and forms no later than Aug. 21, 2023.
 
If you are unable to download the forms or have any questions concerning this data call, please contact TDI's Property and Casualty Actuarial Office by phone at 512-676-6693 or by email at [email protected].
 
 
TDI has a new physical address
Late in 2022, TDI moved from the William P. Hobby Jr. Building in downtown Austin to the Barbara Jordan State Office Building north of the Texas Capitol. If you send forms or other correspondence to TDI using their physical address, be sure you're using the updated address.
 
TDI Office Address
1601 Congress Avenue
Austin, TX 78701

TDI Mailing Address
PO Box 12030
Austin, TX 78711-2030
 
Need a mailing address for title licensing and examination divisions? Contact those divisions as follows:
 
[email protected] 
512.676.6880
 
[email protected] 
512.676.6475
 

Harris County to Investigate Houston-based Title Company

Houston Chronicle | July 04, 2023
Harris County is investigating a Houston-based title company accused of “scamming” dozens of area families in real estate transactions.
 
Read Houston Chronicle article »
 
TLTA Editor's Note: We continue to receive inquires about the situation described in this article. TLTA has issued the following statement in response to inquires:
 
Texas' title insurance industry fulfills crucial functions in millions of real estate transactions statewide every year, which is why our title industry members continue supporting implementation and maintenance of the strongest regulatory framework in the nation, protecting Texas homeowners and Texans engaged in commercial real estate transactions. Our member companies take seriously the trust placed in them and their responsibility to the Texans they serve. We are monitoring and waiting respectfully for the results of the legal process underway in Harris County.