Will Property Tax Increases in Texas Be Limited?
A new bill called Senate Bill 2 was filed recently in Texas to help limit the year-to-year increase that property owners see on their property tax bills. While the bill would not affect school district taxes, it would “require cities and counties to ask for voter approval for any annual property tax hike of 4 percent or greater,” according to The Austin Business Journal.
On the other side, municipal leaders argue that the bill would vastly cut the city revenues they desperately need for such a small monthly property tax amount for real estate property owners. Which side do you fall on?