Early voting began Monday across Texas with voters deciding the fate of 17 proposed amendments to the Texas Constitution, as well as local races for city and school board, bond measures, and tax proposals. The Houston Chronicle reported that many of the propositions intend to lower property taxes for homeowners and businesses. There are two proposed changes to the homestead exemption.
Prop 13 would raise the exemption from $100,000 to $140,000 for all homeowners. The amendment’s authors say that it would save homeowners an average of $363 annually. Prop 11 would raise the tax exemption for disabled Texans and those 65 and older from the current $10,000 to $60,000, bringing their total homestead exemption to $200,000.
The additional property tax exemptions would cost the state $4 billion in property tax revenue over the next two years.
