Texans overwhelmingly approved Proposition 4 on the ballot on Election Day this year.
That's the amendment that increases the Homestead Exemption for Texas property owners from $40,000 up to $100,000. That could mean a pretty substantial cut in the amount of money you pay for your property taxes.
And the school districts don't suffer, because the state picks up the slack in the amount of money that schools get. They don't lose anything even though property owners aren't paying as much into the pot.
This whole topic of Homestead Exemptions can be a bit confusing, especially for people who just moved into Texas.
We get some insight from Chandler Crouch, he's a realtor from Chandler Crouch Realtors.
That's Chandler Crouch, he's a realtor from Chandler Crouch Realtors.
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