florida does something similar.
In FL your home's (you only get one homestead) taxes can not increase more than 3.5% max per year. So the appraisers jack up the valusation as much as possible so when the homestead is sold, the tax amount is rebooted. Thus a longtime owner could be paying $1,000.00 but after the sale the new owner's rebooted rate could be $4,000.00
What really gets me in this discussion is the following:
1) The appraisal caps only reduce the rate of growth in government spending. Forget about actuallly cutting spending (TX politicans have turned into DC politicians).
2) If the local entities really need more money, they can ask the voters to raise the tax rates. The appraisals are set by the appraisal districts, so the local government gets more tax cash withour "raising taxes".
3) It looks like we will get increase sales tax and a new payroll tax without ANY property tax relief. The reduction in tax rate for schools will be only temporary as the appraisal increases will quickly erode the benefit.
4) Many of the opponents are Republicans. If no tax relief is passed this session, can you say "Democrat Controlled TX State Legislator"? Then we face more tax increases and another round of redistricting where the U.S. Congressional breakdown would be Dem 32 Rep 0 (and I am not joking).
5) As the article states, they are artificially jacking up the appraisals in some towns to satisfy budget demands. I know the 2004 appraised value of every house in my sub-division (I have one of the bigger homes). The information is public record and available on-line. Information will be used in the protest I am contemplating.
6) Another interesting point. Some politicans against the appraisal caps have had zero increase of appraisal value in recent years. Conspiracy? I would give odds on it.