2y ago

[Texas Tribune] Texas House and Senate reach a deal on how to cut property taxes

www.texastribune.org Texas House and Senate reach a deal on how to cut property taxes

The deal would channel $12 billion to reduce the school property tax rate for homeowners and business properties, increase the homestead exemption, and create a pilot program to reduce taxes on certain residential and commercial properties. The legislation is expected to pass later this week.

5 comments

Lol wait I thought it was already zero?
- No. Texas uses excessive property tax because we have Zero income tax. Our constitution specifically outlines that the state can have one or the other but not both. So we cranked up property taxes to make up for it making Texas nearly as expensive as California to live.
- Just moved from TX. Can confirm property taxes were high.
- You’re thinking of state income taxes. Texas doesn’t have those.
  Property taxes are based on the appraisal value of your home (appraised yearly with the option to appeal the increases) times the tax rates for your school district and county (anywhere from something like 2%-6% depending on region, don’t quote me on those numbers).

And yeah this is probably going to not help renters at all…