Senator Hall: Study The Amendments Before You Vote!

Senator Hall: Study The Amendments Before You Vote!
Texas State Senator Bob Hall always does a great job of informing his senate district about issues and this November 2015 Election is no different! Read what he has to say about the 7 TX Propositions and be an informed voter.
‘Please carefully study the pros and cons of each proposed amendment before you vote.

November 3rd Constitutional Amendment Voter Guide

Proposition One
S.J.R. 1 proposes amending the Texas Constitution to increase the market value portion of the residence homestead exemption for public school property taxes from $15,000 to $25,000, to reduce the limit on the total amount of public school property taxes that may be imposed on the homestead of an elderly or disabled person, to authorize the legislature to prohibit a political subdivision governing body that has adopted a residential homestead property tax exemption from reducing the amount of or repealing the exemption, and to prohibit the legislature from imposing a transfer tax on a transaction that conveys fee simple title to real property.
Pros: The proposed amendment provides much-needed tax relief by increasing the amount of the mandatory school district residence homestead exemption, likely reducing the amount of taxes paid by a homeowner over the average lifetime of homeownership by thousands of dollars. By making the exemption effective for 2015 taxes, the proposed amendment ensures that the benefits of the increased homestead exemption are felt immediately. Even if the homestead exemption increase does not result in an outright reduction in the property tax burden because of appraisal increases, it will reduce the rate of growth in property taxes on residence homesteads, thereby providing needed tax relief to homeowners.

Cons: The increase in the mandatory school district residence homestead exemption will provide only nominal property tax relief for homeowners and reduce property taxes for the average homeowner by about $126 a year. Increases in appraisals and local property tax rates may mean that no actual reduction in property taxes occurs, merely a reduction in the rate of growth of property taxes. While the homestead exemption increase will provide only nominal property tax relief for any individual homeowner and no relief at all for those who do not own their own homes, it will cost the state $1.24 billion every two years to make up the revenue loss for school districts. That is in addition to the $8.4 billion a year the state already spends for tax relief provided in prior years that likewise never materialized because of rising appraisals and tax rates. The state may not continue to generate revenue surpluses sufficient to make up the revenue loss to school districts arising from the homestead exemption increase. Property taxes are a local matter. The best way to control local property taxes is for voters to hold local officials accountable.’

Read the rest of his newsletter HERE!
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