The May 7th Special Election - For Some Property Tax Relief, Vote "YES" on Proposition 2.
On May 7, 2022, Texans can vote "YES" on Proposition 2 and raise the current homestead exemption on school district property taxes from $25,000 to $40,000. This would result in the average homeowner reportedly saving about $176 annually, provided that (1) the property's appraised value didn't change, and (2) all the applicable tax rates didn't change. Of course, due to the red-hot real estate market, the Harris County Appraisal District is raising the appraised market value on most properties this year. In addition, some school districts have bond proposals on the May 7th ballot which, if passed, would increase local school tax rates. So, even if Texas Proposition 2 passes, most Harris County homeowners will probably be paying more in property taxes again next year. Still, some tax relief is better than no relief. With that in mind, we urge all Harris County voters to vote "YES" on Texas Proposition 2. If passed, the Texas Legislature would reimburse school districts for any lost revenue next year. Of course, with higher property appraisals, many school districts will collect more revenue even with the higher homestead exemption.
Given the large increases in local property appraisals this year, we urge Harris County Commissioners Court to start working on a bipartisan plan to LOWER the Harris County tax rates again this fall. Just like last year, due to higher property appraisals, Commissioners can lower the county tax rates and still collect more tax revenue. Frankly, Harris County government and associated spending has grown dramatically over the past three years, with not much to show for it except more local bureaucracy. Our elected officials must start being more fiscally responsible or local taxpayers (voters) may elect someone else to do their jobs. We will go into this topic in much more detail this fall.
As a reminder, early voting for the Special Election runs from April 25th - May 3rd, with Election Day being Saturday, May 7th. We encourage everyone to get out and vote!
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