Good morning, 

Property taxes are out control. Will lawmakers act?

Here is today's Texas Minute.

– Brandon Waltens

Monday, July 26, 2021
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• It's no secret that property taxes in the Lone Star State have been soaring for years, causing many Texas homeowners to feel like they can never truly own their homes—only rent them from the government. 
   
• Texas' big burden has been recognized nationally as well. In February of last year, WalletHub reported that the state of Texas had the seventh-highest property tax burden in the United States, coming in lower than Wisconsin, Vermont, Connecticut, New Hampshire, Illinois, and New Jersey, where the annual taxes paid on a home priced at the state median value was $3,099.
   
• Just one year later, another report from the Tax Foundation has Texas ranked as the state with the sixth-highest property tax rate, preceded only by Connecticut, Vermont, New Hampshire, Illinois, and New Jersey.
   
• Not exactly great company...

• Republicans have controlled the state Legislature and held every statewide office for nearly two decades. Yet despite campaign promises to the contrary, property tax burdens have increased by 181 percent in that time, quickly outpacing several other states.
   

• Gov. Greg Abbott announced property tax relief as an item on his special session agenda the day before the ongoing special session began on July 8.

• One option available to the legislature is the  “buying down” of the tax burdens with surplus state revenue. Texas Comptroller Glenn Hegar recently announced a revised revenue estimate for the next biennium (Fiscal Years 2022-23), projecting a surplus of $7.85 billion.
   

• According to a recent report by the Texas Public Policy Foundation, at least $5 billion of that surplus would need to be allocated to “buy down” school district maintenance and operations (M&O) property taxes to actually lower Texans’ property tax bills.

• Thus far, due to a paralyzed House of Representatives unable to conduct legislative business both as a legislative body and in committee due to a lack of quorum, the current prospects for property tax relief during this current special session look slim.
   
• Abbott has indicated he will call repeated special sessions until Democrats show up and the agenda is accomplished. When they do, they will have the choice between using the $7.85 billion surplus towards lowering Texans' property tax bills, or diverting it to other pet projects.
   
• Concerned citizens may contact their state representative, their state senator, and Gov. Abbott.

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