We are thrilled to announce that on June 11th, 2023, the Texas House passed House Bill 2 (HB2), a groundbreaking piece of legislation authored by Representative Jodie Laubenberg. This bill is poised to revolutionize the property tax landscape in Texas, offering an astounding $12 billion in tax relief.

HB2 property tax relief for Texas

HB2 introduces several key provisions that will positively impact property owners throughout the state. First and foremost, it includes a remarkable reduction in the school district maintenance and operations tax rate. Previously set at $1.17 per $100 of taxable value, this rate has now been lowered to just $1.04 per $100 of taxable value. Such a significant decrease will result in substantial savings for homeowners and businesses alike.

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Two Class AAA office towers, warehouse space and developable land were acquired by THE HOWARD HUGHES CORPORATION® in The Woodlands®, Texas. A 63 acre Campus in West Houston was also included in this acquisition. This acquisition will meet an ongoing demand in this market and will reinforce The Howard Hughes Corporation’s standing as the community’s representative and largest contributor.

The 63 acre, 1.3 million square foot campus with 17 office buildings acquired from Occidental's Century Park campus in the West Houston Energy Corridor is included in the $565 million transaction. This will be remarketed and will focus resources into the growth of its core business of Master Planned Communities. In The Woodlands, this acquisition of the two Class…

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