Property Taxes

The measures will provide limited property tax relief, but the vote comes after recent tax appraisals gave Texas homeowners sticker shock.

If passed, both initiatives would amend the Texas Constitution. According to economists and experts, the changes could help slow down property tax increases.

The Travis Central Appraisal District says appraised values, or market values, of homes went up 56% this past year. But homeowners don't pay taxes on that amount.

Austin ISD found out this week that properties in Travis County were appraised much higher than it anticipated. It's now expected to pay $850 million into the state recapture system next school year — $50 million more than it had budgeted.

At a time when home appraisals are soaring, economists say the two propositions could help slow the increase of property taxes in Texas.

Voters in Texas can decide on several local ballot initiatives — plus two constitutional amendments — on May 7 before heading back to the polls on May 24 for primary runoff elections.

Texas school districts, cities and counties rely heavily on property taxes to pay for roads, libraries, police, firefighters and public schools. But lowering tax bills has long been a difficult endeavor.

The proposed budget would add $1,000 to teachers' base pay and give them a 2% raise overall. The district is also proposing raising the hourly wage for classified workers and bus drivers.

State officials have rolled out a "Texas Homeowner Assistance Fund" that is designed to help homeowners who’ve fallen behind on mortgage payments and other housing costs during the pandemic.

The City Council voted Thursday to double the current general homestead exemption, taking it to 20%. That means homeowners will not have to pay property taxes on one-fifth of the value of their primary home.