Property taxes in Texas keep going up! More and more property owners are being forced to sell because they cannot afford the growing annual cost. The Texas Association of Realtors is launching a consumer campaign to help explain and set the stage for a more transparent property-tax process. This campaign addressed the Hidden Property Tax. Here is a brief synopsis of what this means and a website you can go to to find out more, as well as contact your Legislator, to express that - simply put, you do not believe local taxing entities should automatically collect more revenue just because properties go up in value!
Your property tax appraisal is not the only thing to be concerned with. The tax-rate that is being used to collect revenue from the taxpayer needs to be addressed. What we mean is that taxing entities that compose the tax rate (i.e. schools, city, county, etc.) have been relying on increased property tax appraisals to generate revenue rather than making adjustments in their tax-rate to compensate tax payers for the higher values. Tax rates aren’t being lowered enough to offset higher property values. When local taxing entities hide behind increased appraisals to fund their increased budgets, we call this the Hidden Property Tax. They may need these funds to increase their services but a more transparent process should take place to inform taxpayers about why these funds are needed, rather than just allowing property-tax bills to increase automatically! Help stop the Hidden Property Tax, go to http://www.hiddenpropertytax.com. Demand transparency and honesty. Higher property values should not mean automatic property tax hikes!