Tax cut erosion is a major concern around the state. Since 2019, the Texas Legislature has committed substantial resources toward reducing property tax bills through twin strategies: compressing school district maintenance and operations (M&O) tax rates1 and increasing the residence homestead exemption. However, the Legislature’s tax relief efforts have largely been frustrated by the excesses of local government, which commonly take the form of aggressive rate hikes, frequent voter-approval tax rate elections (VATREs), large and costly bond propositions, and the abuse of certificates of obligation (COs).
Telling Renters the Truth about Property Taxes
Renters oftentimes do not know how much in property taxes they pay monthly or annually. This knowledge gap can invite negative societal effects, such as uninformed voting decisions. Key points: Many renters are uninformed about their property tax burden. Some estimates suggest that as much as 20% of an individual’s rent is due to local...