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This section also places specific restrictions on home equity loans and lines of credit (Texas being the last state to allow them), the section: limits the amount of a home equity loan, when combined with all other loans against a home, to no more than 80 percent of the home's fair market value at the time of the loan,
As provided in Article 17, Section 1 of the Texas Constitution, [3] a proposed constitutional amendment is placed on the ballot only after the Texas legislature has proposed the amendment in a joint resolution of both the Texas senate and the Texas house of representatives. The joint resolution may originate in either chamber.
Proposition 6 (H.J.R. No. 54) is the constitutional amendment authorizing the legislature to exempt from ad valorem taxation one motor vehicle owned by an individual and used in the course of the owner's occupation or profession and also for personal activities of the owner. The measure passed 73.69 percent in favor to 26.31 percent against.
Texas Proposition 8 may refer to various ballot measures in Texas, including: 1972 Texas Proposition 8, about changing the length of the terms of statewide elected offices in Texas; 2007 Texas Proposition 8, about home equity loans; 2021 Texas Proposition 8, about a homestead property tax exemption for the surviving spouse of a military member ...
Texas also has a lower median household income compared to the national median. In Texas, the median household income between 2017 and 2021 was $67,321, and $74,580 nationwide in 2022.
Proposition 7, the Homestead Tax Limit for Surviving Spouses of Disabled Individuals Amendment, amended the state constitution to "allow the surviving spouse of a disabled individual to maintain a homestead property tax limit if the spouse is 55 years of age or older at the time of the death and remains at the homestead". [9] The measure passed ...
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