Real Texas property tax relief is coming, but which is fairer -- raising homestead exemption or lowering appraisal caps? (Editorial)
, according to the Tax Foundation. Because our state is one of a small handful without a personal income tax, property tax revenue is critical. It pays for our public schools, streets, police and fire departments, libraries, parks and local governments.
to end the 2022-23 biennium, the first thing that came to mind for many lawmakers was"property tax cut." And why not? Paying down some portion of our soaring tax bills is both politically popular, and practical to some degree, even if that relief could ultimately be ephemeral, lead to continued under-investment in public education and shut out renters.
Meyer's bill more directly addresses the appraisal sticker shock problem. Limiting year-over-year appraisals to 5 percent and extending it to all types of property would protect against sudden property value spikes. Yet they are also inherently unfair, benefiting wealthier homeowners — whose property values tend to appreciate faster — over middle- and lower-income homeowners.
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