LUBBOCK, TX (KCBD) -Proposed State Constitutional Amendments 2 and 3 have garnered some opposition from those who say if passed the state will have the ability to impose a state property tax. Lawmakers, businessmen and local property appraisers say this is not the case.
"I had clients that were forwarding me e-mails that said incorrectly that propositions 2 and 3 allowed the state of Texas to impose a property tax on residential property," said CPA Kevin McMahon. After receiving multiple e-mails, McMahon decided to look more closely at the amendments on the November ballot.
Proposition 2, if passed, would regulate central appraisal districts as to what standards they can use to determine a home's worth. It could only be taxed on its value as a residence, not its highest and best use. "It ought to be valued as a home instead of a future office building," said McMahon.
Proposition 3 would create uniform standards and procedures for appraisals across the state. McMahon says he will likely support both amendments.
However Dave Kimbrough, the chief appraiser at the Lubbock Central Appraisal District, will not. He says Proposition 2 will help homeowners, but he opposes propositions 3 and 5, which he says are similar. "Propositions 3 and 5 would benefit the capital intensive industries that have the out of town plaintiff lawyers and the high valued properties. It would benefit them at the expense of the local homeowners and local property owners," said Kimbrough.
While these amendments do not allow state government to impose a property tax, it would take control away from local entities, and give it to the state.
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