🗳️ "Heads Up, Texas Homeowners! Proposition 4 Could Change Your Property Taxes—Vote on Nov 7th!" đźŹ
Hey there! Proposition 4 in Texas for 2023 is all about property taxes and state education funding. It's going to be on the ballot on November 7, 2023. Here's the lowdown:
What Your Vote Means:
Yes Vote: You're for all these changes.
No Vote: You're against them
These are the Changes:
Homestead Tax Exemption: Increases it from $40,000 to $100,000. That's a big jump!
Non-Homestead Property: Allows the state to limit how much the appraisal value can increase each year.
State Education Funding: Any money used to increase this won't count towards the state's spending limit.
Appraisal Entity Governance: In counties with 75,000+ people, the governing body members could have four-year terms.
Background:
This proposition came about after a special legislative session. It's got support from the governor and many state reps, especially Republicans. There's not much of an opposition campaign, at least not yet.