Tax relief for Texans, thank goodness | Opinion
Assuming that, it will lower school property tax rates across the state by 10.7 cents per $100 in value, about $12.6 billion in tax relief for residential and commercial property owners. And an increase in the homestead exemption from $40,000 to $100,000 will add another $5.3 billion in relief for homeowners.
A better bill would have tried to get more savings directly to homeowners, especially those with lower value homes. It’s those people who suffer the most from high taxes.State leaders also should have seriously considered a proposal from Rep. John Bryant, D-Dallas, that would have given a 10% rebate to renters. Renters don’t directly pay property taxes, but you better believe the cost is included in the rent bill.
House Speaker Dade Phelan got the least out of this deal, with a pilot program to cap appraisals on some non-homestead properties. Capping appraisals is a bad idea. It distorts markets and doesn’t target relief. The way this deal is structured, though, it appears unlikely that a significant number of properties will be eligible under the pilot program.
A regrettable element of the deal is a plan to include elected members on local appraisal boards. No one likes getting a higher appraisal. But, for single-family homes at least, they are usually on target. Adding elected members risks dosing the appraisal process with yet more politics.
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