Texas homeowners and businesses will get potentially thousands of dollars cut from their property tax bills in the coming years after voters Tuesday overwhelmingly approved a constitutional amendment that changes how public schools are funded.
“Fighting for property tax reform is something Lt. Governor Dan Patrick and I have been doing together for almost 20 years in the making,” the bill’s author, Houston Republican Sen. Paul Bettencourt, said in an emailed statement. “To have all of everyone’s hard work pay off, it's fantastic to see the public finally getting the property tax reduction they have always wanted and deserved. It’s great to give people their money back from excess budget collections.”
Proposition 4, an $18 billion property tax-cut package, was approved by 84% of voters in Tuesday’s constitutional amendment election, according to Decision Desk HQ. More than 1.6 million voted in favor of the amendment, with 99% of estimated votes counted.