House proposal aims to limit increases in Texas property tax bills
Saying there needs to be more transparency in how property taxes are assessed in Texas, the head of the House Ways and Means Committee unveiled legislation Friday that would reduce the maximum increase allowed in taxes on individual properties.
House Bill 15, dubbed the “Property Taxpayer Empowerment Act” and authored by state Rep. Dennis Bonnen, R-Angleton, would reduce the maximum increase in taxes for a property — from 8 percent to 4 percent. The legislation would also require local governments to annually publish a “No New Taxes Rate" — which is the rate that would raise the same amount of money as the previous year — and restrict debt service taxes to debt that has been approved by voters.
“Government only works when citizens can hold their leaders accountable, and accountability begins with transparency,” Bonnen said in a news release. “Our property tax system is needlessly confusing and discourages citizens from taking an active role in the local rate-setting process. The Property Taxpayer Empowerment Act will give Texans the information and clarity they need about their tax bill to hold local leaders accountable.”
While rates are often kept the same, climbing property values in Texas are rising, leading to higher tax bills for Texas property owners.
Read more: https://www.texastribune.org/2017/03/03/texas-state-rep-files-property-tax-reform-bill/
