In Texas property owners can apply for a homestead exemption and, if over 65, another exemption which allows for some relief from rising property taxes. Unfortunately, the schools keep wanting more money so those of us who are older are finding that the assessed value of our real estate keeps going up every year and the tax bill keeps increasing.
Some people don’t understand this and keep thinking that their house is actually worth more on the sales market. Not true - just a shell game.
“...finding that the assessed value of our real estate keeps going up every year and the tax bill keeps increasing.”
This was happening in Michigan many years back. I think it was in the 80’s. People who owned property, particularly waterfront property, were losing their homes because they could not pay the ever increasing outrageous property taxes.
I recall several consecutive years of double digit increases in my property taxes. It seemed that every year the increase was larger, 12%, 16%, 20%. People finally tired of the increases and passed the Headlee Tax Limit Bill, which limited the allowable increase to 5% or the cost-of-living increase, whichever was lower. Passing that law was one of the smarter things the people of Michigan ever did.
The bill was developed by Richard Headlee. I believe he was a businessman, but I could be wrong about that. A similar law might help in your state.