In 1992, the Texas Lottery was created to provide a new revenue source to lower property tax.
In 1997, the Homestead Exemption increased from $5,000 to $15,000. In 1997, the School M&O tax was reduced by 1/3. In 2006 a Franchise Tax was created to provide a new revenue source to lower property tax. In 2015, the Homestead Exemption increased to $25,000; in 2022 increased to $40,000; and in 2024, the…
