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Old 08-31-2006, 09:32 PM
 
Location: The Big D
14,864 posts, read 39,826,392 times
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So it is only the school taxes that are capped not the city or county unless they put a ceiling on it. This is what has happened in some cities as I said. They voted to approve a ceiling for those over 65 but w/ the huge loss of revenue were faced with shortfallings. I can see how it could hurt if you had a city that had a huge influx of people move there that qualified because of it. It has its good and bad points to be sure.
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Old 08-31-2006, 09:50 PM
 
679 posts, read 2,707,816 times
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I thought I had read on the state's website that there was some kind of other exemption and also that at age 65, there was the exemption from valuation. I was so happy about that. Now I find it didn't make the bill. I think the state's citizens should take a hard stance and say enough is enough and start making political noise. I had also read that the State's coffers are budging at the billions mark. That tells you that they are overtaxing. When the coffers start overflowing, they are suppose to reimburse a lot of that back to the citizens.
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Old 08-31-2006, 09:58 PM
 
Location: The Big D
14,864 posts, read 39,826,392 times
Reputation: 5787
Here is the link for all the tax information from the State:

http://www.capitol.state.tx.us/statutes/txtoc.html (broken link)
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Old 08-31-2006, 10:16 PM
 
679 posts, read 2,707,816 times
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Thanks. I bookmarked it. I'll have to read it when I'm not so sleepy.
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Old 09-01-2006, 07:20 AM
 
Location: Austin, TX
14,446 posts, read 31,767,570 times
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Property taxes are generally governed at the local level (as per the Dallas post). Many areas also cap the city/county taxes as well as the school tax. You just have to specifically check each area.

This makes sense, due to the fact that a 'retired' person is living on a fixed income and property taxes could continue to rise and erode disposable income. If it were an income tax, then the retired person would have much more control of increases in taxes (appraisal would not be a factor).

IMHO, this is one of the bigger issues related to the no state income tax.
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Old 09-01-2006, 12:19 PM
 
Location: Western Bexar County
3,823 posts, read 13,959,039 times
Reputation: 1937
Default School Property Taxes

Quote:
Originally Posted by momof2dfw View Post
So it is only the school taxes that are capped not the city or county unless they put a ceiling on it...
Yep. Our Texas Governor wanted to solve two problems at once.

First, he wanted to get the Federal Judge off his back by restructuring school financing by the state.

Second, he wanted to get re-elected by lowering the school portion of property tax....of course businesses and smokers are a few of the ones that will pick up the tab.
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