AUSTIN – Earlier today, the Austin City Council approved increasing the homestead exemption from 6 percent to 8 percent, which should save $23 for the average homeowner with a $250,000 house. Texas Public Policy Foundation’s Center for Local Governance Director James Quintero issued the following statement on the action:
 
            “Austinites need relief from soaring property taxes, and city council’s actions today recognize that crushing reality,” said Quintero. “But while an increase in the homestead exemption is a welcome move, a broader and more permanent solution is sorely needed.
 
            “To truly protect Austin homeowners and businesses as well as give taxpayers predictability in the growth of their tax bill every year, councilmembers should limit the growth of property tax revenues to either 4 percent or population and inflation, whichever is less.”
 
            To schedule an interview with Mr. Quintero, please contact Caroline Espinosa at cespinosa@texaspolicy.com or 512-472-2700.

James Quintero is director of the Center for Local Governance at the Texas Public Policy Foundation.

The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.

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