Texas voters can vote for or against seven amendments to the state's constitution Nov. 7.
Proposition 1
House Joint Resolution 21 The ballot reads: “The constitutional amendment authorizing the Legislature to provide for an exemption from ad valorem taxation of part of the market value of the residence homestead of a partially disabled veteran or the surviving spouse of a partially disabled veteran if the residence homestead was donated to the disabled veteran by a charitable organization for less than the market value of the residence homestead and harmonizing certain related provisions of the Texas Constitution.”
What it means: This amendment would provide property tax exemptions on homes that were donated to partially disabled veterans—or their surviving spouses—for less than their market values. Currently the Texas Constitution already authorizes property tax exemptions for homes that were donated to partially disabled veterans at no cost to the recipients.
Proposition 2
Senate Joint Resolution 60 The ballot reads: “The constitutional amendment to establish a lower amount for expenses that can be charged to a borrower and removing certain financing expense limitations for a home equity loan, establishing certain authorized lenders to make a home equity loan, changing certain options for the refinancing of home equity loans, changing the threshold for an advance of a home equity line of credit, and allowing home equity loans on agricultural homesteads.”
What it means: This amendment would lower the cap on fees charged to borrowers when establishing a home equity loan from 3 percent to 2 percent of the principal of the loan. It would also allow home equity loans to be refinanced as non-home equity loans and would expand the list of entities that may administer home equity loans to include savings banks, credit unions, subsidiaries of banks, and savings and loan associations.












