Even with a guesstimated 7.5 increase this year that brings the two-year appraised value increase to 38 in Harris County.
Texas Insider Report: AUSTIN Texas The myth that apartment renters get a free lunch on paying property taxes does not add up said Paul Bettencourt Texas State Senator from the Houston-based District 7 and chairman of the Senate Select Committee on Property Tax Reform & Relief earlier today announcing he will be myth busting a series of common property tax myths over the coming weeks.
The data is clear said Bettencourt. In Harris County the average taxable value on multifamily housing units has increased three times faster than the average taxable value increase on single family homes and more than four times faster than median household income in Harris County.
Rather than getting a free lunch renters get eaten for lunch by property taxes.
During statewide testimony in front of the Senate Select Committee on Property Tax Reform & Relief earlier this year pro-tax groups repeatedly claimed several myths that are not supported by empirical data. The first property tax myth Sen. Bettencourt said he would address is that renters are not impacted by rising appraisals and increasing property taxes.
In Harris County the average taxable value for multifamily housing has increased 138 since 2005. Over the same time period the average taxable value on a single family home has increased 46 and median household income has increased 31.
Given testimony by retiring Harris County Chief Appraiser Sands Stiefer that the average residential home increase last year was 28.6 these numbers are expected to increase dramatically as data is fully reported.
Continued Bettencourt:
The first time anyone heard about this dramatic increase was during our committee hearing Bettencourt said.
Even with a guesstimated 7.5 increase this year that brings the two-year appraised value increase to 38 in Harris County. The only thing that slowed the increase on homeowners was the 10 per year appraisal cap which is spreading out these increases over multiple years.
Single family homes are catching up rapidly.
Sen. Bettencourt was appointed by Texas Lt. Gov. Dan Patrick (right) earlier this year to serve as the chairman of the Senate Select Committee on Property Tax Reform & Relief. The committee has held hearings throughout Texas to study the property tax process including the appraisal system and recommend ways to promote transparency simplicity and accountability by all taxing entities and examine and develop options to further reduce the tax burden on property owners.
The committee plans to hold additional hearings this fall prior to releasing its Legislative Report later this year.
