Texas' real estate market is experiencing record-breaking growth and home prices are skyrocketing.
San Antonio saw a 18% jump in property values over the last year, according to the Texas A&M Real Estate Research Center.
But when appraisals go up so do the tax bills, and Texans already pay some of the highest property taxes in the country.
Two constitutional amendments up for a vote in Texas' May 7 election could provide some relief, but confusing ballot language could make it harder for voters to understand what it is they're being asked to approve.
Boiled down, Proposition 1 would not only freeze the frozen school property tax bills for people who are disabled or over age 65, but also lower them year after year. School taxes make up about half of a total property tax bill.
Proposition 2 raise the amount of a residential homestead exemption for public school taxes. Homeowners with an exemption currently take $25,000 off its appraised value to determine the amount owed for school property taxes, and Prop 2 would increase that discount to $40,000.
What impact could these changes have on property tax bills and on school district finances, if approved by Texas voters? Would they go into effect immediately?
Does ballot language affect election outcomes?
Guests:
- Dave Lieber, Watchdog investigative columnist for the Dallas Morning News
- Dale Craymer, president of the Texas Taxpayers and Research Association
"The Source" is a live call-in program on air Mondays through Thursdays from 12-1 p.m. Central.
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*This interview was recorded on Wednesday, April 13.