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Two property tax-related constitutional amendments will be on the May 7 ballot in Texas

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Some homeowners across the country are rushing to pay their 2018 property taxes well before the due date because the new Republican tax law overhaul could affect how much they are allowed to deduct next year.
Sheila Thompson
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Some homeowners across the country are rushing to pay their 2018 property taxes well before the due date because the new Republican tax law overhaul could affect how much they are allowed to deduct next year.

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?

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*This interview was recorded on Wednesday, April 13.

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