How Much Do You Save if Prop 1 Passes? (The Texas Tribune)

Photo Courtesy of The Texas Tribune

Photo Courtesy of The Texas Tribune

By Aman Batheja and Miles Hutson

Voters are heading to the polls and casting early ballots in the Nov. 3 election, which includes an effort by state lawmakers to lower Texans’ property tax bills. If Proposition 1 passes, the homestead exemption for school districts will rise from $15,000 to $25,000. How that impacts a homeowner’s tax bill depends on their school district’s tax rate.

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