Over the past weeks I have written about the upcoming constitutional election because it is a direct opportunity for Texans to participate in their government. This week I am writing about property tax relief because it is so important for Texas families.
One of the most significant challenges for Texas homeowners is high property tax bills. Texas is one of the few states that does not have a state income tax, so property tax is main revenue generator for schools and local government. In response to homeowners seeking property tax relief, the Texas Legislature passed two constitutional amendments during the last legislative session. For these changes to take effect, voters must approve them in the upcoming November 3rd constitutional election.
Proposition 1 increases the homestead property tax exemption, so that a greater portion of your home's value is exempt from taxation. This amendment will increase the amount of the residence homestead exemption from ad valorem taxation from $15,000 to $25,000. It is expected to save the average Texas homeowner $120 per year.
Proposition 2 proposes property tax exemptions for surviving spouses of certain disabled veterans. This amendment would authorize the legislature to extend the current homestead exemption for surviving spouses to deceased and totally disabled veterans whose partners died before January 1, 2010. Allowing this proposition to pass is a gesture of appreciation to the families who have served this nation in wartime and sacrificed a great deal.