Early voting for the two propositions began Monday and runs through May 3. Story by TexasTribune
Texas voters have the chance to expand homestead exemptions in the May 7 constitutional amendment election.Public schools in Texas are funded largely by local property taxes and, asTexas law grants homeowners some tax relief through what are called homestead exemptions, which reduce for qualifying homeowners the amount of a home’s value that can be taxed.
Bettencourt said he expects increased tax bills for those with homestead exemptions to be in the “single digits.” Homeowners who have a case can alsoThe propositions would not help renters, who have also seen rising housing costs, nor businesses and other property owners becauseProposition 1 would cost the state more than $744 million from 2024 to 2026, according to aProposition 2 would cost the state almost $1.
Bettencourt told The Texas Tribune he believes the state can cover the costs with strong economic growth and revenue from sources such as the state’s sales tax. James Quintero, a policy director for the Texas Public Policy Foundation, a conservative think tank, said the foundation would like to eventually see most school district property taxes eliminated. Thelocal governments should tighten spending, the state should spend more on education and the state should also increase the number of goods to which sales taxes are applied.
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