Without appraisal caps property tax cuts are worthless and we got a defacto state income tax with Perry’s new business tax.
Texas: great for gunowners, terrible for homeowners.
Another Texas Government LIE, just like the one promising that all the lottery ticlet sales proceeds would go to education! Will we EVER learn?
OH no! The election is over and Hillary won?
There is no property ownership in America as long as there are property taxes.
Us Floridians are still waiting for ours too...
Texas is definately doing something wrong. Texans don’t realize they are sending Austin much of their equity in property taxes. My family has been looking at rural homes with acreage in west Texas and in New Mexico and the difference in prices for comparable homes is astonishing. This is even true when comparing a large Texas city like Lubbock (pop. about 260,000) and a small New Mexico town like Clovis (pop. about 38,000). Even homes way out in the County around Clovis are more expensive than homes in the growing southwest part of Lubbock. Having lost on two Texas properties in the past, and now unable to sell a third for even the tax appraisal value, our minds are made up.
And I forgot to mention that this Texas county also has an annual property tax on vehicles under ten years old. I’ve been told that this tax can be significant for a newer vehicle, i.e. around $400.
Tax cuts? We got ‘em, but the Appraisal Districs keep jacking up property values each year to (over)compensate for it. The law states a maximium of 10% (capped) property value increase each year, and since inception I have received 10% increases each year.
“Carl Tepper, a commercial property manager who expects that the rising value of his home in the Allandale neighborhood of Austin will eat up the school tax cut.”
This is by design- under current regulations the system can be too easily manipulated. Texas desperately needs Property Tax reform.