A quick reminder from TMHA that tomorrow is election day. The voters will decide tomorrow the fate of 14 Propositions. And while there aren’t any races for office, other than the special election for House District 2 to replace former Rep. Bryan Slaton, there are a couple of Propositions that we call your attention to.
First, Proposition 4 is a constitution amendment on a $12.7 billion dollar package of tax cuts. Included in Proposition 4 is the increase to the residential homestead tax exemption from the current $40,000 up to $100,000 (with additional exemptions for older Texans), and the ability for the legislature to temporarily limit the appraised value of certain non-residential property. The latter is the “circuit breaker” appraisal cap at no more than a 20 percent increase for all non-residential property, so commercial property like manufactured home communities, that have an appraised value less than $5 million.
The other initiative is Proposition 8, which seeks to create the broadband infrastructure fund. The broadband infrastructure fund would be used, without further appropriation, only for the expansion of access to and adoption of broadband and telecommunications services.
There are additional amendments to the state’s constitution on tomorrow’s ballot, including propositions on energy and water, but TMHA would ask for your favorable consideration when you cast your vote for Propositions 4 and 8, specifically.