Wednesday, April 29, 2015

Travis County appraisals up 11% as #TXLEGE reconciles tax proposals

"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

Could this be why Lt. Governor Patrick has made property tax relief the Texas Senate's priority?!?
The average residential value rose to $355,312 from $320,032 last year, Marya Crigler, chief appraiser for the Travis Central Appraisal District, said Tuesday.

Taxable residential values — that’s the market value after exemptions — rose 9 percent, to $262,462 from $240,139 last year, Crigler said.

Travis County, as well as cities, school districts and other local taxing entities will use the taxable values to set 2015 property taxes.
Austin Affordability has more:
It’s not a pretty sight!

You will see lots of $60,000 to $90,000+ increases for single family homes. Many of these same homeowners saw appraisal increases last year that were well above 10%. So, guess what that means. Even though there is a 10% cap on the home value used to calculate their tax bill, the assessment amount above the cap sits in the system to haunt the taxpayer in future years.

Even if the taxing entities lower their tax rates slightly to compensate for rising appraisals, tax bills continue to skyrocket.

Think about the longtime Austinites who have already seen their tax appraisals double and even triple in the last 10 or 15 years. Then think about the future. If taxes go up just 5% each year, it would only take 14 and a half years for today’s tax bills to double! That’s becuase [sic] the impact is compunded [sic].
 Your move Mr. Straus....

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