Williamson County statements give early look at state property tax relief

Tuesday, Williamson County began sending out property tax statements adjusted to show the impact of the state's proposed $18 billion property tax cuts for home and business owners.

WILLIAMSON COUNTY, Texas (KXAN) — Tuesday, Williamson County began sending out property tax statements adjusted to show the impact of the state's proposed $18 billion property tax cuts for home and business owners.

Proposition 4 is on the November ballot for Texans. If passed, it would deliver the largest property tax cut in the state's history by raising the homestead exemption to $100,000 and cutting school property taxes for average-priced homes.

According to Governor Greg Abbott's Office, that would result in a reduction of $1,250-$1,450 to the average home's property tax. Those opposed to the measure say the relief bill will benefit homeowners at the expense of Texas public schools.

Larry Gaddes, Williamson County tax assessor collector, said the county issued property tax statements with the presumption that Prop 4 will pass and be written into the Texas Constitution.

Gaddes said that if the measure fails, the county will readjust its estimations.

"If Proposition 4 does not pass, we will have to send out revised tax bills that show an increase in the taxes that they currently are," Gaddes said.

Eric Peterson, Cedar Park resident and owner of Kopa Real Estate, said the preliminary statements for his home and his clients would be notable if voters pass Prop 4.

"My taxes personally on my house are about $3,000 lower this year. I pulled up somebody, this is a house that's listed for sale for $400,000. Their school property taxes went down from $2,333 to $721."

Gaddes said Williamson County residents in Round Rock ISD and Pflugerville ISD will receive their property tax statements after the Nov. 7 election as both districts have Voter-Approved Tax Ratification Elections on their respective ballots.