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  • Writer's pictureMartha Cox

I Have a $1,300 Gift for You!

Would you remember me if I gave you $1,300 this year? What if I continued to do that each year for the next ten years at $13,000? I’m going to give you that gift by telling you to vote.

The biggest property tax break in Texas history is on the table, and you can vote to lower your property taxes!

The State of Texas Proposition 4 would deliver the biggest property tax relief package in Texas history by raising the homestead exemption related to public school taxes to $100,000 (up from $40,000) and authorizing the state to send more money to local school districts.

Show Me the Money!!!

The lead bill author for this legislation projects the average Texas homeowner under age 65 can expect about $1,300 in tax savings per year because of this property tax reform. Those over 65 may see an average of about $1,450 annually in savings.

When to vote:

The State Constitutional Amendment Election is November 7th.

Vote early, October 23rd to November 3rd.

You can see answers to FAQs about voting and voting locations here

What is a Homestead Exemption?

A homestead exemption is basically a tax break to property owners for their primary residence. The exempted dollar amount lowers your taxes. For example, if your appraisal district values your homestead at $600,000 but exempts $100,000 of that, you pay taxes on $500,000 of the valuation instead of on the $600,000 valuation.

A homestead exemption also protects homeowners against most creditors. For example, if you fall behind on your credit card bills or auto payments, those companies can’t take your home or take from the equity you have in your home. However, a mortgage lender and contractor can still place a lien on your home.

How do I Apply for a Homestead Exemption?

You can apply through your county appraisal district.

Where can I see all the legal documents?

Did you know that Texas has its own state constitution? You can see it here The Texas Constitution of 1876 established the property tax system, and the Texas property tax law details are primarily found in the Texas Tax Code.

Here’s the link from the 88th Texas Legislature regarding the proposed Amendments.

Mark your calendar now for November 7th, and get out there and vote!

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