Texas voters have the chance in a May 7 constitutional amendment election to expand homestead exemptions that could lower the amount of property values upon which property taxes can be levied.
The measures would lower school district property taxes for qualifying homeowners, but some homeowners could still see increased tax bills because of property value growth.
"The state is sitting on a large amount of money because it didn't spend everything that was available to it," said Dick Lavine, a senior fiscal analyst for Every Texan, a liberal-leaning think tank. "So immediately it will be able to cover the cost. But over the long term, no, they did not increase state revenue in order to cover the loss of local school property tax revenue.
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