Several New Tax Laws For Texas – Don’t Panic Though

Texans will soon be asked to vote for or against 17 new Texas constitutional amendments and 8 have to do with taxes. Don't freak out though, this could be good ...

Don't start referring to Texas as "Tax-us" just yet, the amendments regarding taxation in Texas coming up for a vote involve lowering taxes or capping them, not raising or initiating new ones.

Lowering taxes is something I think we can all get together on ...

November 4th, Texans head to the polls and there are 17 different amendments for us to vote on that have something to do with either lowering or capping taxes with a special emphasis on property taxes.

Lower Property Taxes

Governor Abbott has made slashing property taxation one of his main legislative priorities, and in June signed into law two bills increasing property tax exemptions, which took effect at the beginning of September.

Most of the constitutional amendments to be voted on would either place bans or greater restrictions on certain taxes, showing Abbott and the Republican controlled Texas Legislature want to expand their tax-cutting agenda. - newsweek

One of the bills related to property taxes Governor Abbott really got behind was SB 4 which raises the homestead exemption from $100,000 to $140,000 for all Texas homeowners. Another of the 'Guv's faves, (SB 23), pushes it even farther; raising it to $200,000 for elderly, (65+), and disabled homeowners.

READ MORE: Property Taxes To Rise In El Paso?

Texans currently pay the highest property taxes in the nation, 1.63% vs. the national average of 0.90%.  Learn about some of the other tax related items on the upcoming ballot here.