Texas House approves property tax bill

First

Taxes are to high and killing us and cutting our food supply

Wake up older people can’t eat now and medical bills and meds , higher taxes will destroy Us

Excellent

Inflation and housing appreciation rate could vary a lot depending on the macro economy and specific area. I am not an expert on setting that specific cap rate. Maybe, 5% cap on primary home and 10% on investment property could work to smooth out the market volatility while still keeping a fair and stable property tax system. The property tax should smooth out the market volatility impact on all home owners. But the current system actually amplifies that market volatility impact.

Let's use water represent the total tax burden, a big bucket represent homeowners with 10% homestead cap, a smaller bucket represent homeowners of investment property, then assume total tax amount is a fixed number. With home value surged in pandemic, water got poured from a big bucket to a small bucket, it created a catastrophic water level surge in the small bucket. When home price drops and stabilizes after pandemic, water will slowly flow from the small bucket to the big bucket.

That huge tax burden shift from a big group to a small group is not fair. It is a flaw in the property tax system of Texas, and it should be fixed by the policymakers.

how about we move the old people from these desired areas of Texas, and put them in the boonies at a nice $1k property taxes.

🎉🤸🎆

But what are the chances of it passing the senate? This great news. We need relief

yall need to mix the audio up in these videos, way too quiet

Does this apply to 2023 appraisal assessed values? My commercial property appraisals have gone up 370% from 2021 and 170% from 2022.

Homestead exemption is to benefit residents and 65+. The increase cap on appraisal value is to smooth out the market volatility. Both residential homes and investment properties should have the same appraisal value increase cap. 10% cap means no cap in long term, it just serves as a glitch filter to the market volatility and give all tax payers stability and predictability. Increasing investment property homeowners' property tax 50% in a year is brutal and killing some landlords who didn't prepare the shock well.
1) Increasing exemption will shift tax from residential homeowners to landlords.
2)Reducing school district tax rate will benefit all property owners.
3) Reducing appraisal increase cap to 5% for residential homes only will shift much more tax from residential homeowners to landlords and new homebuyers.
4) Reducing appraisal increase cap to 5% for all properties will benefit all existing property owners, but bad for new home buyers.
5) applying 10% appraisal increase cap to all properties will benefit all property owners, will solve the tax stability and predictability issue and still keep a fair tax system for Texas.

Wow I’m going to get a $150 cut 😂 yay

Get the Taxes By Keeping Liquor Stores Open Until Midnight Instead of 9:PM Mondays - Saturdays.