Texas election: Here are the Texas propositions on the May 7 ballot
Proposition 1
“The constitutional amendment authorizing the legislature to provide for the reduction of the amount of a limitation on the total amount of ad valorem taxes that may be imposed for general elementary and secondary public school purposes on the residence homestead of a person who is elderly or disabled to reflect any statutory reduction from the preceding tax year in the maximum compressed rate of the maintenance and operations taxes imposed for those purposes on the homestead.”
When Texans turn 65 or if they are disabled, their property taxes for school districts no longer increase as long as they remain in the same home. In 2019, the Legislature passed House Bill 3 which offered a reduction in school property taxes. Voters are choosing whether to effectively extend that reduction to taxpayers who are disabled or 65 or older.
Proposition 2
“The constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes from $25,000 to $40,000.”
Homestead exemptions subtract part of a homes value for the purpose of calculating property taxes. Under current Texas law, school districts are required to offer a $25,000 homestead exemption. The constitutional amendment, which stems from a resolution passed by legislators in October during a special session, increases that amount to $40,000.
