This week I joined my colleague Representative Phil King in a long-term effort to decrease the property tax burden for homeowners. The current school finance system has resulted in unsustainably high property tax bills and has caused the re-distribution of wealth system known as Robin Hood in an effort to equalize school funding.
Therefore I have joint-authored House Joint Resolution 38 which is a constitutional amendment to require twenty-five percent of surplus state revenue to be dedicated to the Property Tax Relief Fund.
The Property Tax Relief fund is used to buy-down school districts maintenance and operations property tax rates. If this resolution passes and is approved by the voters schools will be less reliant on local property taxes and will receive more of their funding from the state.
The state is constitutionally responsible for providing adequate funding for public schools. However because the local districts have been paying more than the appropriate share of education costs as funded by local property taxes Texas has been involved in a self-defeating cycle of litigation and our public school finance problems continue. HJR 38 would help to address this dilemma.
Also this week the House passed my legislation (HB 1038) that would prevent local appraisal districts from unfairly appraising properties that have been foreclosed on during the past three years and properties that have distressed values due to a declining economy.
As the Vice Chairman of the Interim Select Committee on Property Tax and Appraisal Reform of the 80th Legislature I heard testimony from homeowners who had to lower the asking prices for their homes on the market due to the recent economic downturn in the housing market.
However their appraisal values had actually increased. Foreclosed properties can already bring down appraised values but it often takes three to four years. With HB 1038 foreclosed properties will be accounted for almost immediately.
If passed this legislation will provide some property tax relief by prohibiting appraisal districts from overlooking foreclosed properties and will provide a more accurately represented market value appraisal system.
This week I joined my colleague Representative Phil King in a long-term effort to decrease the property tax burden for homeowners. The current school finance system has resulted in unsustainably high property tax bills and has caused the re-distribution of wealth system known as Robin Hood in an effort to equalize school funding.
Therefore I have joint-authored House Joint Resolution 38 which is a constitutional amendment to require twenty-five percent of surplus state revenue to be dedicated to the Property Tax Relief Fund.
The Property Tax Relief fund is used to buy-down school districts maintenance and operations property tax rates. If this resolution passes and is approved by the voters schools will be less reliant on local property taxes and will receive more of their funding from the state.
The state is constitutionally responsible for providing adequate funding for public schools. However because the local districts have been paying more than the appropriate share of education costs as funded by local property taxes Texas has been involved in a self-defeating cycle of litigation and our public school finance problems continue. HJR 38 would help to address this dilemma.
Also this week the House passed my legislation (HB 1038) that would prevent local appraisal districts from unfairly appraising properties that have been foreclosed on during the past three years and properties that have distressed values due to a declining economy.
As the Vice Chairman of the Interim Select Committee on Property Tax and Appraisal Reform of the 80th Legislature I heard testimony from homeowners who had to lower the asking prices for their homes on the market due to the recent economic downturn in the housing market.
However their appraisal values had actually increased. Foreclosed properties can already bring down appraised values but it often takes three to four years. With HB 1038 foreclosed properties will be accounted for almost immediately.
If passed this legislation will provide some property tax relief by prohibiting appraisal districts from overlooking foreclosed properties and will provide a more accurately represented market value appraisal system.
