Texans are struggling with high inflation, stagnating real wages, and a housing affordability crisis. Moreover, Texas ranks 6th in the nation on the highest property tax paid. Yet, thanks to a record general revenue-related surplus of $32.7 billion, the 88th Legislature has a historic opportunity to provide all Texans with real and lasting relief. To achieve this goal, the Foundation proposes the following roadmap to help alleviate the tax burden and set Texas up for success into the future. This framework is based on 3 essentials—restraining the burden of government, returning a maximum amount of surplus revenue back to taxpayers, and recognizing the need for permanent change.
Just the Facts: Property Taxes, 3rd edition
This study compares property tax levy growth with population and inflation increases in Texas’ most populous cities, counties, and school districts. Key points Property taxes are growing faster than necessary in many parts of Texas. From 2018 to 2022, property taxes outstripped population and inflation in a majority of Texas’ most populous cities, counties, and...