Earlier this year the Texas State Legislature mandated a 11 percent property tax reduction for all Texans. Great news for homeowners, right? Wrong!
In the last two months, our local governments have managed to take the largest tax cut in state history and turn it into a tax increase. That's right, instead of a savings on property taxes, most home owners in Lubbock will see about a 4 percent increase next year.
So how can we go from a 11 percent property tax cut to paying more in Lubbock?
Well, there are five main reasons to be exact.
So any tax relief you thought you were getting from Governor Perry's massive tax cut was gobbled up by local taxing entities.
Let's be fair...every thing that happened here was legal. So what are we to expect will happen to next years massive tax relief from Perry? Probably the same thing that happened this year because it is allowed by law. So consider this...change the laws!
Right now a state wide task force put together by Governor Perry is working to do just that. And Lubbock's own Gary Boren sits on that committee for appraisal reform. If our local officials won't hold the line on taxes, maybe this committee can help change the entire process. Or is this just another bogus campaign ploy in an election year. I hope not.
Last week I met with Gary and committee chairman Tom Pauken and they assured me that this was not a meaningless exercise, but time will tell.
In the meantime, if you have ideas how to better protect property owners while funding government. Send them to me. I promise I'll pass your ideas along.
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