tag:blogger.com,1999:blog-218895095376593246.post3850045717003617736..comments2023-11-03T03:12:21.931-05:00Comments on Cahnman's Musings: 2015 Texas Constitutional Amendments Conservative/Libertarian GuideCahnmanhttp://www.blogger.com/profile/11542963247073132479noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-218895095376593246.post-90133240581715862202015-10-27T11:41:34.780-05:002015-10-27T11:41:34.780-05:00Curious minds want to know... ;-)
What does Cahnma...Curious minds want to know... ;-)<br />What does Cahnman's Musings think of the Libertarian Party of Texas's reason for opposing TX Prop. 1?<br /><br />Proposition 1, SJR 1: Oppose<br /><br />"The constitutional amendment increasing the amount of the residence homestead exemption from ad valorem taxation for public school purposes from $15,000 to $25,000, providing for a reduction of the limitation on the total amount of ad valorem taxes that may be imposed for those purposes on the homestead of an elderly or disabled person to reflect the increased exemption amount, authorizing the legislature to prohibit a political subdivision that has adopted an optional residence homestead exemption from ad valorem taxation from reducing the amount of or repealing the exemption, and prohibiting the enactment of a law that imposes a transfer tax on a transaction that conveys fee simple title to real property." <br /><br />Though this proposition would appear to reduce the property taxes on homeowners, there is a provision for the State to hold school districts harmless for property tax losses, effectively shifting the tax burden from local school districts to State taxpayers. This legislation would require the School Districts to basically create two tax bills. If the proposition fails a supplemental tax bill would be sent. This does far more harm than good creating confusion for home owners who pay their own taxes and for mortgage companies which pay taxes from escrow.<br /> <br />LPTexas is universally in favor of tax reduction, but this bill does not reduce taxes. It merely shifts the tax burden from school districts (a government entity) to private citizens. Dave Poshhttps://www.blogger.com/profile/12084271385377238677noreply@blogger.com