On July 13, the Texas State Legislature finalized a constitutional amendment and adopted implementing legislation designed to lower property taxes before adjourning its second special legislative session of the year. The amendment, which voters will decide on in Nov., would:
- increase the homestead tax exemption from $40,000 to $100,000;
- authorize the state legislature to limit the annual appraisal increase on non-homestead real property;
- exclude appropriations made to increase state education funding from the state appropriations limit; and
- authorize the state legislature to provide for four-year terms for members of the governing body of an appraisal entity in counties with a population of 75,000 or more.
