What Does Austin’s Budget Show Us About Rates and Values?
Ideally, an inverse relationship exists between property tax rates and property values. As one goes up, the other should come down, lest the product of those two variables—i.e., one’s tax bill—shoot up as a result. Of course, Texas’ local governments aren’t well-known for lowering rates when values rise, or vice versa. Case-in-point: the city of...