Senator Glenn Hegar Explains Prop. 3
Constitutional amendment to ensure all homeowners benefit from 10% appraisal cap
AUSTIN -- State Senator Glenn Hegar explains Proposition 3, the constitutional amendment passed by the Texas Legislature and on the November 6th ballot. Proposition 3 will firmly cap the appraisal increase on a person's home at 10% in any year, regardless of how much time has passed since the last appraisal. Currently, a homeowner whose home has not been reappraised for three years can face up to an overwhelming 30% property tax increase in a single year. "In my experience, Texas taxpayers struggle to meet a 10% increase in their property taxes, much less a 30% increase, and Proposition 3 will ensure that these types of property tax increases no longer happen in the State of Texas," stated Senator Hegar.
Majority approval of Proposition 3 will conform to current law what most would agree was the voters intention in 1997, a firm 10% appraisal cap. "I strongly believe that Texas must continue to lower property taxes, or we will ultimately see our state's economy negatively impacted by escalating property taxes. By passing this important amendment, Texans will help bring greater fairness and much needed relief to many Texas homeowners," said Senator Hegar.
During the legislative session, Proposition 3 received widespread support, passing unanimously in the Texas House and by a vote of 29-1 in the Texas Senate. This proposed amendment will have only a small fiscal impact on government budgets, yet have a significant impact for Texas taxpayers.