Texas Senator Dan Patrick (R-Houston) believes property taxes are gradually pricing homeowners out of their homes while giving them little recourse to fight back.
To combat this trend Patrick has created an Appraisal Reform Bill (SB700) that he hopes will give all property owners more control of their destiny.
For too many years the powerful lobbyists hired by counties and cities have fought any true tax relief for home and business property owners
said Patrick It is time for them to stop fighting against their own citizens.
The bill is intended to place downward pressure on property taxes through increased transparency. For example this legislation allows for Homestead exemptions to go back as far as five years in cases where homestead exemptions were available but the homeowner failed to apply for them.
It will also require appraisal notices to clearly outline the increase in appraisal for the past five years as well as the percentage of increase and will allow for appraisal protests be heard in JP Courts if the amount of taxes in dispute does not exceed $5000.
Patrick hopes the notice requirements will make homeowners painfully aware of the appraisal increases on their homestead and hopes to give voters the ability to approve their city or countys increase of more than eight percent in property tax revenue.
The Appraisal Reform bill has received a lot of push back from influential lobbyists who are property tax proponents but is considered by many to be a critical priority that will bring property tax relief to the people of Texas by giving them a place at the table.
The bill is set to lower the Roll Back rate from eight percent to five percent and requires increases above this limit to be approved by the voters.
Patrick and his constituents believe that without this legislation property owners will pay increasingly higher property taxes at a time when market values continue to decline but appraised values continue to climb.
If we dont provide real property tax relief at a time when everyone knows values are down we are going to have a revolt at the appraisal board this year said Patrick.
Texas Senator Dan Patrick (R-Houston) believes property taxes are gradually pricing homeowners out of their homes while giving them little recourse to fight back.
To combat this trend Patrick has created an Appraisal Reform Bill (SB700) that he hopes will give all property owners more control of their destiny.
For too many years the powerful lobbyists hired by counties and cities have fought any true tax relief for home and business property owners
said Patrick It is time for them to stop fighting against their own citizens.
The bill is intended to place downward pressure on property taxes through increased transparency. For example this legislation allows for Homestead exemptions to go back as far as five years in cases where homestead exemptions were available but the homeowner failed to apply for them.
It will also require appraisal notices to clearly outline the increase in appraisal for the past five years as well as the percentage of increase and will allow for appraisal protests be heard in JP Courts if the amount of taxes in dispute does not exceed $5000.
Patrick hopes the notice requirements will make homeowners painfully aware of the appraisal increases on their homestead and hopes to give voters the ability to approve their city or countys increase of more than eight percent in property tax revenue.
The Appraisal Reform bill has received a lot of push back from influential lobbyists who are property tax proponents but is considered by many to be a critical priority that will bring property tax relief to the people of Texas by giving them a place at the table.
The bill is set to lower the Roll Back rate from eight percent to five percent and requires increases above this limit to be approved by the voters.
Patrick and his constituents believe that without this legislation property owners will pay increasingly higher property taxes at a time when market values continue to decline but appraised values continue to climb.
If we dont provide real property tax relief at a time when everyone knows values are down we are going to have a revolt at the appraisal board this year said Patrick.
