EL PASO, Texas – In under one month Texans will head out to the ballot. In this election, you will notice two state propositions on the ballot that could impact homeowners if passed.
The first state proposition on the ballot, if passed, would essentially mean a lower property tax rate for homeowners who are older than 65 and those who are disabled.
These homeowners would essentially receive a reduction in school district property taxes.
The second state proposition on the ballot, if passed, would lower school district property taxes by instead increasing the homestead exemption.
Ultimately, this would lower a homeowner’s annual property tax bill because it would increase the homestead exemption from $25,000 to $40,000.