AUSTIN – Today, the Texas Public Policy Foundation released a report by Center for Local Governance Director James Quintero on the heavy property tax burden in the Lone Star State. The report, Homeowners and the Texas Property Tax, recommends requiring local voter approval for property tax rates that result in an increase in local property tax revenue in excess of 5 percent over the preceding year.
“Property taxes in Texas are among the most burdensome in the nation,” said James Quintero, Director of the Center for Local Governance. “According to the Tax Foundation, local governments in the Lone Star State collect more than $1,550 per person in annual property taxes, which ranks as the 15th highest tax burden nationally. And this burden continues to climb.
“Though well-intentioned, past efforts to bring about meaningful property tax relief have failed. It’s time that state and local officials consider more aggressive measures—such as enacting a hard limit on the amount of increased tax revenue that can be collected over the previous fiscal year—to protect families and businesses from this crushing burden.”
To read the full report, visit: http://txpo.li/texas-property-tax
James Quintero is the 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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