Expanding the homestead exemption would not affect taxation on multifamily properties, which are taxed as commercial properties.
Because Texas, and especially major urban areas, lack enough housing of every type, and especially multifamily properties, rent prices have skyrocketed. Working people are paying too much of their paychecks to have a roof over their heads.So how can we get tax relief to those who need it most? The Legislature should look beyond property tax. Cutting the 6.25% sales tax burden the state charges on consumer purchases would be painful for lawmakers, who would need to make decisions about state expenditures that those taxes fund. But it would put some money back in the pockets of every Texans. As Jankowski notes, 40% of Texans are renters. That number is higher in major cities.
Sales tax revenue has grown significantly for the state. In fiscal year 2018, Texas collected $32 billion in sales tax. In the last fiscal year, it was $43 billion, according to data from the state comptroller’s office. House Speaker Dade Phelan told Jankowski that “Maybe we need to look at more than property tax. Maybe sales tax.”We welcome your thoughts in a letter to the editor. See the guidelines and
State has no skin in the game. To say they have lowered property taxes is disingenuous. Increasing the homestead exemptions just shifts more burden to local entities. What is being done for business real estate taxes? Nothing. Decrease sales tax rate, franchise taxes to start.
Austin will increase the homestead but school districts will raise tax rate. Teachers won’t get a raise!
Because that's all that matters -- not people freezing.
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