Texas voters approved all 17 proposed amendments to the state constitution in Tuesday’s election, enacting a broad package of tax cuts, spending programs, and policy changes advanced by the legislature earlier this year.
The measures required a two-thirds vote by the legislature earlier this year before being placed on the ballot.
Some of the most prominent items approved included a series of property tax measures that together amount to what lawmakers called the largest tax relief package in state history. Voters approved an increase in the standard homestead exemption for school property taxes from $100,000 to $140,000.
Another measure raised the exemption for elderly and disabled Texans from $10,000 to $60,000.
Additionally, businesses will now be able to exempt up to $125,000 in equipment and inventory from local property taxes.
Several amendments also permanently prohibit new forms of taxation. Texas will now constitutionally ban inheritance and estate taxes, a capital gains tax on investment profits, and taxes on stock or securities transactions.
