New bill aims to help longtime East Austin residents

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by KVUE News

kvue.com

Posted on May 2, 2013 at 7:45 AM

AUSTIN -- There's a new push at the State Capitol to help slow the exodus of longtime East Austin residents.

A bill from State Rep. Eddie Rodriguez would allow Austin to resurrect a so-called Homestead Preservation District.

According to our partners at the Austin American-Statesman, the measure would give homeowners a tax buffer, as long as they agree to restrictions on how much to sell their house for.

In recent years a steady stream of wealthy newcomers have moved into East Austin -- causing home prices and taxes to soar.

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