Texas’ Historic Homeowners Tax Cut on the Ballot: What To Know

In Texas, homeowners might see one of the largest property tax cuts in state history, potentially saving about $500 annually per typical home if voters approve the measures in November.

Gov. Greg Abbott signed bills increasing homestead exemptions, expanding breaks for seniors and disabled individuals, and reducing certain business property taxes.

However, amid a redistricting battle, the focus on the tax cuts has been overshadowed. Here are the key points homeowners need to know about the upcoming ballot measures:

FULL STORY: Texas Homeowners Could Get the Biggest Tax Cut in the State’s History—but Redistricting Fight Has Overshadowed It

Key takeaways

• The property tax relief measures include raising the school district residence homestead exemption to $140,000 and $200,000 for seniors and disabled homeowners, as well as increasing the business personal property tax exemption to $125,000.
• The tax relief plan, accounting for $51 billion, is a significant portion of the state’s budget and aims to provide relief for homeowners and small businesses, with most funds directed to school districts to offset the revenue loss.
• The measures are not guaranteed and require voter approval in the November 2025 election to be enshrined in the state constitution, with a simple majority needed for approval.
• Despite historical voter support for property tax relief, the turnout for constitutional amendment elections tends to be lower in off-year elections, potentially impacting the outcome.
• Governor Abbott’s focus on a redistricting battle has diverted attention from the property tax plan, with national implications and risks surrounding potential changes to the congressional map.

Texas voters should be aware of key dates for voter registration, early voting, and Election Day, while also considering how the proposed exemptions could impact their property taxes. It is essential to stay informed and engaged with the upcoming election to have a say in the future of property taxes in Texas.

This summary has been generated with AI tools and edited by Realtor.com® News & Insights editors. The full story, written and edited by Realtor.com News & Insights newsroom journalists, is linked at the top of the summary.