Property taxes in Texas and Declared Natural Disasters
Posted: Thu Sep 05, 2024 4:13 pm
https://houstonlanding.org/this-years-d ... 25-budget/
The tax rate cannot go up with out a vote of the people in the area. The revenue the municipality gets goes up every year due to inflation and increases in property values. If the property values go up too much, then the tax rate has to actually go down. This has been hard for spend all you can local governments, who have had to actually lower the percentage they can tax. No more windfalls when property values go up 20% a year.
Guess what, there is a loop hole.
Harris County (Houston) had three declared natural disasters this year.
The loophole is triggered. The County can and apparently plans to raise the tax rate by 8% without an election.
So yeah, as Houstonians struggle with repairs and clean up. The County plans to raise their taxes.
The tax rate cannot go up with out a vote of the people in the area. The revenue the municipality gets goes up every year due to inflation and increases in property values. If the property values go up too much, then the tax rate has to actually go down. This has been hard for spend all you can local governments, who have had to actually lower the percentage they can tax. No more windfalls when property values go up 20% a year.
Guess what, there is a loop hole.
Harris County (Houston) had three declared natural disasters this year.
The loophole is triggered. The County can and apparently plans to raise the tax rate by 8% without an election.
So yeah, as Houstonians struggle with repairs and clean up. The County plans to raise their taxes.