Gov. Greg Abbott, along with Lt. Gov. Dan Patrick, at the ceremonial signing of SB2, the property tax relief plan. If passed by voters in the fall, homestead exemptions would increase to $100,000. Courtesy State of Texas
By Bob Wieland | [email protected]
Texas voters will decide in November whether to accept $18 billion in tax relief proposed in a constitutional amendment.
If approved by a simple majority of voters, Proposition 4 (Prop. 4) on the Nov. 7 ballot would implement Senate Bill 2 (SB 2) sponsored by Sen. Paul Bettencourt (R-Houston) and carried in the House by Rep. Morgan Meyer (R-Highland Park).
The enabling measure is House Joint Resolution 2 by Rep. Will Metcalf (R-Conroe).
“If passed by voters this fall, Texas homestead exemptions will rise to $100,000, senior homeowners will be protected from being priced out of their home, the small business exemption for the franchise tax will double and Texas small businesses will be protected from excessive appraisal increases,” Gov. Greg Abbott said at the Wednesday, Aug. 9, signing ceremony held in New Caney, northeast of Houston.
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