Critics of a proposal to limit property value increases to reduce homeowners’ property tax burden say the measure would destabilize the housing market and cause cities to raise other taxes to compensate.
Lawmakers and tax experts alike are rejecting proposals to cap year-over-year increases in appraised home values, and hence property taxes, for Texas homeowners, calling it a Band-Aid that simply shifts the tax burden to other property owners and distorts the real estate market, reports Jeremy Wallace in the Houston Chronicle.
“Though some Texas counties saw single-family home values rise 20 percent or more on average in 2022 (in Harris County, it was 21 percent; in Bexar County it was a whopping 28 percent), the experts see appraisal caps as a stopgap that ultimately won't drive tax bills down.” According to experts, some renters and business owners could see higher tax bills, while the wealthiest homeowners would benefit the most from appraisal caps. Currently, while appraisals are not capped, property taxes can only increase by 10 percent every year.
Appraisal caps are one of several recent proposed measures aimed at reducing taxes for homeowners in the state. Two state bills passed in 2019 limited school tax increases and overall tax growth without voter approval, and Governor Greg Abbott “promised to use at least $13 billion of the budget surplus for ‘historic’ property tax relief.”
FULL STORY: Many Texans want appraisal caps for property tax relief. Here’s why they won’t fly in Austin.
Property Taxes Cuts on the Ballot in at Least Eight States
From completely eliminating property tax to creating new exemptions, voters in eight states across the country will cast their votes on a variety of ballot measures that could have major implications for local budgets.
Quantifying the Losses Caused by New Freeways
Data shows cities lose millions in potential property taxes when highways displace homes and businesses.
Assessing the Racial Home Valuation Gap
Research shows that homes in communities of color are consistently undervalued by, in some cases, over $1 million.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
Baltimore to break ground on $50 million Transit Priority Project
The project will bring faster bus trips, safer streets and better bike connections to Baltimore.
Airbnb launches $250 million 'last-dollar financing' housing accelerator, makes first investment in Austin
The company will put $6.4 million towards affordable housing development in Texas’ capital.
Guerilla urbanists are building DIY bus stop benches in Chicago
A before-and-after of one of the bus stops with a new bench. The new benches are not officially sanctioned or permitted, but the residents who placed them hope they will be the start of a network of DIY benches across the city.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association