Texans face an affordability crisis with inflated bills, diminishing savings, and a looming U.S. recession. While this is mostly the result of Washington’s irresponsible policies, Texas governments can help by using massive surpluses to dramatically reduce the sixth most burdensome property tax system in the nation without harming the delivery of core services. The Foundation’s Lower Taxes, Better Texas plan accomplishes this by lowering maintenance and operations (M&O) property tax bills while adequately funding core services.
Exploring The Texas Housing Market: Conditions, Constraints and Capacity for Development
Texas’s housing market is challenged by supply-side constraints, rooted in restrictive zoning, large-lot mandates, escalating regulatory fees, and runaway property taxation. Key Points: Texas’s housing affordability crisis is supply-driven: a 306,000-home shortfall, falling permits, and a $321,000 median price reflect regulatory barriers blocking construction needed to meet population growth. Government regulation accounts for 23.8% of...