According to the Texas Comptroller, Texas is more than 300,000 housing units short of meeting the growth in population the state has been experiencing over the last decade. There are ways for the state government to intervene on behalf of the people to remove overburdensome regulations that have contributed to an artificial scarcity of homes. The purpose of SB 840 is to allow by right mixed-use residential and commercial zoning, which would make converting empty office spaces into housing units much easier. Converting offices into housing has a lower construction impact than new development because the structure and much of the infrastructure (e.g., electricity, plumbing, HVAC) are already in place. This, combined with other measures, would add to the housing supply and aid in bringing prices down to a more affordable range for consumers.
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...