Housing affordability is an issue top of mind for 9 out of 10 Texans (Adams et al., 2024). Median priced, newly constructed homes are out of reach for 74% of Texas families (Zhao, 2024, p. 8). Local regulations, like restrictions on minimum lot size, account for 20.4% of Texas home prices (King, 2018, para. 8). Senate Bill (SB) 15 seeks to mitigate the soaring cost of housing by prohibiting municipalities from preventing the development of small lots on which starter homes can be built. Eliminating this aspect of municipal government interference promises to help increase the supply of housing and permit market forces to better cater to prospective homebuyers.
Just the Facts: Property Taxes in Texas’ Most Populous Cities, Counties, and School Districts 4th Edition
Property taxes imposed by local governments have, in many instances, outpaced population growth and inflation. As a result, Texans pay some of the highest property taxes in the nation. Key points: Property taxes are assessed and collected by local governing bodies. The State does not levy a property tax. Local governments levied $89.4 billion in...