(1) LIMIT SPENDING. The Conservative Texas Budget limits spending increases. Limit population growth to 4% & cut property taxes with the rest. (2) IMPOSE REVENUE TRIGGERS. Triggers of 2.5% would limit the escalation of tax of tax bills. (3) ELIMINATE M&O PROPERTY TAXES. That is maintenance & operations. If above 4% state level could eliminate in about 11 years. M&O is about 1/2 of today’s property tax burden.
Pre-approval means your financial situation has been verified by the lender. You have filled out a loan application to show your credit report, employment history, your income as the lender has looked at this & can probably make you the loan. PRE-APPROVAL provides more certainty to a borrower than PRE-QUAL , but still have processes to go through to make the loan.