I live in Fort Worth and had my taxes capped when I turned 65. Last year I received a letter from the tax assessor that my taxes were decreasing by almost $1000. Don’t really like Texas but with that kind of incentive how can I afford to leave?
How do you get your taxes “capped?” Are you talking about your over-65 homestead exemption? That’s not a cap, just an additional exemption. That’s going to make anyone’s taxes decrease.
Property taxes are increased two ways, by an increase in your assessed property (tax) value, or by increases in the tax rates, normally the school tax, which citizens almost always stupidly increase by voting “for” school bond issues, as if they think they’ll never get the bill for it.