Governor Abbott Sets Special Election Concerning Property Taxes
Texas Governor Greg Abbott has set a special election day for voters to decide upon two proposed constitutional amendments in Texas.
Both concern homestead property tax exemptions that would impact public school districts.
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.
Meaning, the legislature would be allowed to lower the amount of school property taxes of homes owned by someone who is elderly or disabled.
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.
If passed, Proposition 2 would increase the amount of the residential homestead exemption for public school purposes from $25,000 to $40,000.
Both proposed amendments were passed during legislative special sessions last year. Saturday, May 7th, is when the special election will be held.
Iconic Lubbock Businesses That Have Closed Over the Years
10 Famous People Who Went to Texas Tech University
Wild Pictures From a Lubbock Hailstorm (May 20th, 2020)
More From Lonestar 99-5 FM
