FORT WORTH (CBSDFW.COM) – Dr. Elaine Edmonds of East Fort Worth says for years, she has watched her property values and as a result her property taxes continue to rise.
“I’m really concerned. I call it the escalator; it just goes up and up and up and up.”
She worries it’s becoming more difficult for homeowners to stay in their homes. “As we’re aging and as those property taxes are going up, it’s just getting people so they cannot afford to live in Fort Worth.”
As CBS11 has reported, home appraisal values have risen by about 20% in Tarrant County, about 24% in Dallas County, about 25% in Denton County, and as much as 30% in Collin County.
Two measures on the May 7th ballot would help provide Edmonds and millions of other Texans some relief if voters approve amending the Texas Constitution.
Proposition 1 would benefit nearly two million Texans who have an over 65 or disabled exemption on their home.
State Senator Paul Bettencourt, R-Houston, says those who qualify would see on average, a $110 reduction in the first year, 2023, and a $125 reduction in the second year, 2024.
Proposition 2 would increase the homestead exemption for school district property taxes from $25,000 to $40,000. Bettencourt says that would help homeowners save an average of $175 dollars.
If approved by voters, it would be effective as of January, 2022, and homeowners would see the savings when they get their property tax bills in the mail this fall.
School districts won’t lose any revenue because the money would come from the state and replace what previously came from local property taxpayers.
Edmonds said, “It would be a good thing I think not only for us but other people in our neighborhood.”
Here are the key dates for the election:
Early voting begins Monday, April 25.
The last day to apply for a ballot by mail is Tuesday, April 26.
The final day of early voting is Tuesday, May 3.
Again, Election Day is Saturday, May 7.
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