I won't go into depth how much I'm not a Lt Dan fan - but Texas House just passed a property tax bill across all owners (commercial and residential) and then ended their special session. So there is only one way for it to pass by ratification of the Texas Senate of no bill at all. Hopefully Lt Dan decides to get with the program and pass it.

https://www.kbtx.com/app/2023/05/30/texas-house-swiftly-passes-property-tax-bill-abruptly-adjourns/

Edit: by getting with the program I mean just passing something instead of gridlocked nothing until we get another legislative session. Lt. Dan's plan helps homeowners more but they have been bickering back and forth while doing nothing.

What?

Did you read the article?

Amen friend. Amen.

Your tax is an early retirement cost.

SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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How do you ensure illegals pay? Is the idea that they pay through their employer paying more for not writing off their wages?

NoahAg said:

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Sounds like a lot of bickering that does not adequately address the real problem: School funding should not, in any way, be tied to the perceived value of my home based on the opinions of the idiots at the central appraisal district.

It is absurd that a family with 1 child, owning a $400K house pays the same in school taxes as their neighbors with 4 children in the same $400K house. I've never heard a legislator or school administrator address that question.

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That's a school funding question, not taxes.

SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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I think for most Ags a minimal income tax with much lower property taxes would be a money saver, or at least a wash.

But we will never find out.

Illegals don't pay property tax but their landlords do. You could do a hybrid tax on commercial property vs homestead

NoahAg said:

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SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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That would still suck. Either way you are penalized for being successful.
I consider myself a pretty "Texan" Texan. Always thought I'd live here forever, but with property taxes what they are it doesn't make much sense to retire here.

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Property taxes freeze for texans over 65 years old. So if you ever move to a new house - you'll pay a new tax amount for that first year and then it's frozen.

SteveBott said:

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Illegals don't pay property tax but their landlords do. You could do a hybrid tax on commercial property vs homestead

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oh right, landlords pay property tax out the kindness of their heart.

Red Pear Luke (BCS) said:

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NoahAg said:

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SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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That would still suck. Either way you are penalized for being successful.
I consider myself a pretty "Texan" Texan. Always thought I'd live here forever, but with property taxes what they are it doesn't make much sense to retire here.

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Property taxes freeze for texans over 65 years old. So if you ever move to a new house - you'll pay a new tax amount for that first year and then it's frozen.

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Not exactly. Only the school district is required to adopt an over-65 ceiling. In some places almost all of the tax gets frozen because many jurisdictions decide to grant it, but in other places the school district freezes, but county, city, emergency services, MUD, etc all continue to rise even for over-65 homeowners.

JJxvi said:

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Not exactly. Only the school district is required to adopt an over-65 ceiling. In some places almost all of the tax gets frozen because many jurisdictions decide to grant it, but in other places the school district freezes, but county, city, emergency services, MUD, etc all continue to rise even for over-65 homeowners.

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This is true. My city and school district both voted the grant the 65 freeze shortly after the law was passed. I always assumed that virtually all cities and ISDs did the same, but many have not. That's on the citizens. Get your petition up and get it on the ballot.

Red Pear Luke (BCS) said:

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NoahAg said:

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SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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That would still suck. Either way you are penalized for being successful.
I consider myself a pretty "Texan" Texan. Always thought I'd live here forever, but with property taxes what they are it doesn't make much sense to retire here.

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Property taxes freeze for texans over 65 years old. So if you ever move to a new house - you'll pay a new tax amount for that first year and then it's frozen.

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This is on your homestead property right? What about other properties you own

Yes homestead only

SteveBott said:

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I know this is considered blasphemy on texags we need to replace property taxes with an income tax.

I'll let myself out.

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No

Raise taxes on non-homesteads. Increase the cost of owning rental properties.

Red Pear Luke (BCS) said:

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TxAG#2011 said:

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Raise taxes on non-homesteads. Increase the cost of owning rental properties.

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That just means the landlords pass the increase onto the tenants.

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Only if the market can support it. Will landlords lower rent if taxes go down? Yea right.

Also increases vacancy loss without a tenant, which should incentivize landlords to lower rent.

I think you would be shocked how much taxes are crushing the bottom line for commercial. At the same time that insurance has more than doubled.

The answer isn't to shift the tax burden. The answer is to severely cut spending and decrease the burden on everyone. Commercial paying lower taxes will absolutely trickle down to both tenants and investors. Which will stimulate the economy at an exponential clip compared to government stimulus.

Commercial real estate has been doing fine, nobody is getting "crushed". Properties are still being assessed below market and have been for a long time.

Property tax in Texas is equivalent to an income tax. High earners have a higher valued property. Nice homes, pools, balconies, etc. An income tax and it keeps going up and up. The legislature has failed us for years.

High earners are concentrated in the big cities and work professional jobs (drs, lawyers, bankers, etc) and they live in more expensive area.

Is this going to happen?

Is what going to happen?

SteveBott said:

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Is what going to happen?

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I just meant anything regarding property taxes from this special session. This is the latest I've seen
https://www.texastribune.org/2023/06/20/texas-senate-property-taxes-cuts/

Texas Senate Passed this version - so now its back to the House for approving or them continuing to kick rocks around.

And I'll be honest to Lt. Dan and the Texas Senate - this looks to be a much better bill all around for everyone who owns a home AND business owner's increasing the franchise tax exemption from $1.2M to $2.5M of Revenue

The House Speaker is heavily involved in Commercial Real Estate

https://www.cbsnews.com/texas/news/texas-senate-passes-new-property-tax-relief-bill/