Could Texas see a Property Tax Increase Cap in the Future?

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Property tax increase caps have been proposed in a few times before. The last time in 2017 the plan was to cap property tax increase at four or six percent but the idea got shut down quickly.

According to Dallas News, “The difference this year, the bill sponsors said, is that the House and Senate leadership are united. Each chamber is starting from the same place with the same bill. The bill is expected to fly through the Senate property tax committee, where four out of five members are co-sponsors.”

If the bill passes this is not to say that property tax won’t still increase each year but the rate a which it does will decrease significantly compared to how they do now. Property owners would find comfort in knowing they wouldn’t be paying six percent more than the previous year in taxes.

Schools and local governments, however, would not be too happy if this bill were to pass. Setting a property tax increase cap would affect school funding and public safety. While promises have been made to supplement the school funding made by property taxes gave, no such plan has given hope to the policemen, firemen or hospitals that rely on that money as well.

Although it is clear this bill would drastically change the way things are, it is unclear whether or not it will even come to pass.

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