The November Constitutional Amendment election led to changes in property taxes that have delayed tax statements for the year, according to the Hays County Tax Assessor-Collector Jenifer O’Kane.
“The November 7th election was canvassed on November 14th and included propositions which resulted in extensive changes to the manner in which tax rates and exemptions are administered,” O’Kane said. “The tax office has encountered issues with files that are imported to generate bills but wants to assure property owners and taxing units that they are working day and night to generate the statements. The accuracy of the bills and especially the tax ceilings for our Over 65 and Disabled property owners is also top priority. At this time, the tax office estimates tax statements will be generated by year end. By law, no extension to the due date is given. Tax Statements are due upon receipt and become delinquent February 1, 2024.”
O’Kane said once statements become available they will be posted at tax. co.hays.tx.us immediately and may be viewed, printed and paid. Paper statements will follow in the mail.
Statements are currently delayed due to Proposition 4, which led to changes in the way tax rates and exemptions are administered.
The Texas Secretary of State website stated that Proposition 4 authorized the legislature to temporarily limit the maxi-mum appraised value of real property for property tax purposes in a tax year. It requires the mandatory homestead exemption for school district property taxation from $40,000 to $100,000. It requires the legislature to provide for a reduction in the amount of the limitation on school district property taxes imposed on the residence homestead of the elderly or disabled. It also dictates that members serving on an appraisal board in a county with a population of at least 75,000 serve terms not to exceed four years.
An article published by the Texas Tribune on Dec. 12 by Jess Huff stated that more than $18 billion in property tax cuts were approved by over 80% of Texas voters in the November election. In regard to Proposition 4, the state is required to make up for lost tax revenue to the school districts.
Even with the lower rates, Huff stated that many homeowners will see property taxes staying the same or even increasing. Home values are growing at a faster rate than the tax cut. Lt. Gov. Dan Patrick said homeowners with an average priced home, which according to Zillow is approximately $298,424 as of Oct. 31, 2023, could see a savings of $1,250$1,450 annually.
Huff advised homeowners to call the local appraisal district or the tax assessor-collector’s office to ensure that the savings are applied to the tax bill. If the home is being paid through an escrow account via a mortgage lender must speak with the lender. What will likely happen is that the surplus in taxes paid are refunded to the homeowner or used toward the tax payment for 2024.
