In recent years, tax and expenditure limits – legal limits on how fast government spending and taxes can grow each year based on some measure of economic activity – have received increasing attention at the state level as a result of the success of Colorado’s Taxpayers’ Bill of Rights. Not all tax and expenditure limitation measures are created equal: Texas’ is one of the least effective in the nation.
Bringing Down the House (Price)
A decade ago, the typical Texas home value was about $181,000. Today, it’s ballooned to around $302,000. As home prices increase so too does the barrier to entry get higher. A recent study estimates it would take 7 years for a median-income Texas household to save up for a 20% down payment. But you don’t...