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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: "A 'property-tax revolt' is underway across the country. These numbers explain what's driving it." posted by regmac on April 29, 2025 at 11:30:29:
Property valuations here in Texas have absolutely exploded over the last ten years. Eight, ten, twelve percent year on year. All this owing to the number of people relocating here. The valuation looks great on yer personal balance sheet, but the taxman cometh. And boy have they been a coming, and peoples are gettin pissed. Market valuation increases have slowed some since mortgage rates went up, but they're still up. School taxes are the lion's share of the bill.
When you turn 65 you can claim an exemption that freezes the valuation for purposes of school taxes. Our legislators managed to cut us some slack last session and I ended up paying ~20% less in school taxes - a significant amount of $'s. The legislature is considering additional property tax relief, but they're in disagreement about much of a break to give businesses and how much to homeowners. They had the same fight with the first round of relief and ended up letting businesses share the pie. I'd like for them to only help homeowners. What's the chance those businesses will pass any tax relief they receive on in the form of price reductions? Answer: Slim and None.
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Follow Ups
- In Texas you just have to hurry up and get old. - Sondek 13:32:10 04/29/25 (1)
- Children are the future - Jay Buridan 14:21:45 04/29/25 (0)
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