Property taxes have been at the forefront of Texas small business owners’ minds. On top of inflation and the ongoing worker shortage, rising property taxes have made it more difficult for our job creators to own and operate their businesses.
But next week, voters will have the opportunity to approve meaningful tax relief!
On Election Day, vote ‘yes’ on Proposition 4, which:
- Increases the homestead tax exemption from $40,000 to $100,000;
- Enacts $12 billion in tax compression, with the state set to buy down ISD taxes on residential and commercial property owners;
- Limits increases on non-residential properties’ taxable value to 2o percent, which applies to commercial and non-residential properties under $5 million in value; and
- Provides greater transparency by adding three positions to each county appraisal district’s board of directors.
CLICK HERE for a quick one-pager on the provisions of Proposition 4. For more information on your voter registration status, visit the Texas Secretary of State website here.
