Property Taxes

/Tag: Property Taxes

Tax “Reform” Makes Denton County Property Taxes Even Less Appealing

The Tax Cuts And Jobs Act was signed into law this week, and a significant portion of your Denton County property taxes may no longer be deductible under the new law in 2018. Aside from being one of the worst researched and most ill-conceived pieces of legislation in modern history, the new tax bill is very favorable to corporate America. Unfortunately the new tax "reform" is not exactly friendly to home ownership. It remains to be seen how the new tax law will affect DFW area home prices, but the new rules certainly don't favor [...]

Texas Property Tax Reform Dies On The Vine

Property tax reform died an inevitable death during the 85th Texas legislative session. I say inevitable, because it was clear from the outset of the road show advertised as a property tax reform effort that there were too many conflicts of interest preventing real reform of what can only be described as an incestuous, revenue-driven system. Texas is still one of the few states without a state income tax. The Texas Senate wants to keep it that way. Texas senators also made it clear that their legislative body wanted to push a school privatization scheme [...]

City Of Katy Lands Amazon Fulfillment Center, But At What Cost?

"A tree falls the way it leans. Be careful which way you lean." As residents of Katy Texas are busy making their daily slog down the congestion of the Grand Parkway or the soon-to-be traffic debacle around what is arguably the most expensive high school football stadium on the planet, perhaps it is time to question the pursuit of endless growth and the "more is better" mentality that seems to be the mantra of local, state and federal officials.  As we learned this past week, Katy Texas is going to be the home of a [...]

Senate Bill 2 Another Insult Among Many To Texas Homeowners

Senate Bill 2, filed by state senator Paul Bettencourt (CEO of Bettencourt Tax Advisors) is another insult in the long line of insults to Texas homeowners when it comes to property tax reform. Mr. Bettencourt and several other senators authored SB-2 late last year after the committee Bettencourt chaired released a report on recommended changes to the Texas property tax system. All of this came after a year-long road show in which the committee listened to public testimony throughout the state on our broken property tax system, apparently only feigning an interest in real reform. [...]

Texas Economic Development Fueled By Taxpayer-Funded Corporate Subsidies

Texas economic development continues to be fueled by taxpayer-funded corporate subsidies. An estimated $1.4 billion in property tax revenue has gone uncollected in Texas from 2005 to 2015 as a result of Chapter 313. These are the findings from the state auditor's report in October 2016. As Texas Observer detailed last year, the free lunch to corporations doing business in the state of Texas has seen steady growth year after year. The Texas Economic Development Act, or Chapter 313 as it's known in the tax code, has now racked up an estimated $7 billion cost [...]

By | 2018-05-13T20:29:40+00:00 February 11th, 2017|Economy, Energy & Utilities, Politics, Texas Property Taxes|0 Comments

Senate Bill 2 Insufficient Fix For A Broken System

After numerous meetings throughout the state taking copious amounts of public input through the Committee on Property Tax Reform and Relief, Paul Bettencourt has filed Senate Bill 2 dubbed the Texas Property Tax Reform and Relief Act of 2017. Among other things, the bill would require cities and counties to ask for voter approval for any property tax hike greater than 4 percent. More interestingly, the bill will not affect school district taxes. School property taxes make up roughly half of the property tax bill for Texas homeowners. This bill would do nothing to lower [...]

Committee Hearing On Property Tax Reform Provides Hope For Change

Last week I had the opportunity to testify before the Texas senate committee on property tax reform & relief.  There were several hundred property owners and local officials addressing the issue of skyrocketing property taxes. I was encouraged by the general discussion and much of the testimony that was offered. I was particularly encouraged by the committee's general consensus that property taxes are a major problem for all Texas property owners. It is a problem that now affects the affordability of local homes and sales of single-family property throughout Fort Bend County as people realize that even [...]

Public Hearing On Property Tax Reform To Be Held May 10th At University Of Houston

Residents in the Katy and Fulshear area have become increasingly concerned with the operationally corrupt nature of our property tax system, and it appears state officials are finally taking notice. A public hearing with the Senate Select Committee on Property Tax Reform and Relief has been scheduled for Tuesday May 10th at the University of Houston Student Center starting at 9:00am. You can click on the following page link for additional information: http://www.capitol.state.tx.us/tlodocs/84R/schedules/html/C6322016051009001.HTM Local residents who have witnessed the abuses taking place at the Fort Bend CAD and Harris County Appraisal District will have an opportunity [...]

NAR: Existing Home Sales Fizzle In February As Affordability Evaporates

The National Association of Realtors reported that existing home sales fizzled in Februrary, falling to a seasonally adjusted annual rate of 5.08 million. This was a sharp decline from January numbers but 2 percent higher than a year ago. NAR's chief economist, Lawrence Yun, mentioned the stock market, poor weather on the East coast, as well as supply and affordability issues. At least he got one of the four correct! The real problem surrounding the U.S. real estate market is a lack of affordability. Home prices have been levitated back to the previous bubble levels [...]

City of Austin Sues State Of Texas Over Unequal Appraisal System

It appears the City of Austin is taking the bull by the horns in addressing Texas' broken property tax system. The city yesterday announced a lawsuit against the state of Texas over unequal appraisals that continue to burden residential homeowners. The new lawsuit stems from Austin's challenge of TCAD commercial values earlier this summer. In that independent TCAD analysis, commercial property appraisals were shown to be under market value by as much as 50 percent. This of course would contradict the state constitutional mandate that all property be taxed "in proportion to its value". The [...]

By | 2018-05-13T20:36:55+00:00 August 25th, 2015|Housing Policy, Politics, Spin Cycle, Video|0 Comments