The growth of municipal property taxes has steadily increased over the past twenty years, fast outpacing population and inflation growth. Although the Texas Legislature has provided cities with a tool to lessen the tax burden on residents — allowing cities to exempt up to 20 percent or $5,000 of the value of a homestead residence from municipal taxation — many cities have not yet made use of this permissive tool. Thus, the following ordinance gives practical effect to the Legislature’s homestead exemption.
Higher Education Subsidization: Why and How Should We Subsidize Higher Education?
We provide massive college subsidies at both the federal and state level. This paper explores the justifications for these college subsidies, subsidy design considerations, and evaluates the main subsidy programs to assess whether they are well-designed. Our evaluation discovers reasons to eliminate some subsidies and ways to improve other subsidies. Key points: Subsidies for higher...