Wednesday, March 30, 2016

The path towards MEANINGFUL Property Tax RELIEF....


"But the former governors who were before me laid burdens on the people, and took from them bread and wine, besides forty shekels of silver. Yes, even their servants bore rule over the people, but I did not do so, because of the fear of God."
Nehemiah 5:15

We would hasten to add that the appraisal system needs to be addressed, but this is a good start from Empower Texans:
First, property tax limits need to be strengthened.

In 2015, reformers in the Senate sought to do two things—lower the annual rate at which local governments can increase their coffers (also known as the rollback rate), and require local voter approval for governments seeking to break that limit.

Local governments, their tax-funded lobbyists, and their associations came out in fierce opposition. Unsurprisingly, too many local officials oppose the idea of having to obtain voter approval to raise property taxes. So much for believing in “local control.”

....

Second, tax reform should also involve limits on local spending growth.

Houston voters petitioned for and passed a charter amendment limiting the annual increase in property tax revenue, otherwise known as the revenue cap. But the city found a way to circumvent voters—they simply created new taxes not subject to the cap. As a result of ignoring glaring fiscal problems, the big-spending city is in financial trouble.

....

Finally, Texas’ debt epidemic must be addressed.

Voters should be given basic financial information on the ballot, such as the current debt of the asking entity, the total cost of the ballot proposition including both principal and interest expense, and the resulting impact on property tax rates if the measure is approved or rejected.
Read the whole thing here.

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