Texas Gov. Greg Abbott promises 'largest property tax cut in Texas history'

[areyentiraidhi]

 

 

Texas Gov. Greg Abbott | Facebook

 

Texans have voiced concerns about high property tax rates and as the gubernatorial race winds down, both candidates have put the matter high on their agenda.

Their solutions for easing the problem, though, are very different.

During a September debate, Republican Gov. Greg Abbott promised to use state budget revenues to buy down property tax burdens for homeowners. 

“Texas is sitting on a $27 Billion SURPLUS because of our record setting revenue,” Abbott said in a recent tweet. “We will use much of it to deliver the largest property tax cut in Texas history.” 

Democratic challenger Beto O'Rourke suggested increasing the tax burden on commercial properties, adding new revenue streams such as legal marijuana, and expanding medicaid. 

Texans are not wrong when they think they’re paying higher rates than people in other states. TaxRates.org reports that Texas' median effective residential property tax rate in 2022 is 1.81%. Median effective tax rate is a measure of the percent of a home's market value that is collected by taxing authorities, meaning any tax exemptions on the property are factored into determining the rate. 

California and Florida — two states often compared to Texas because the three are the most populous — both have lower effective property tax rates than the Lone Star State, with rates at 0.74% and 0.97% respectively. 

World Population Review says about 64% of Texans live in the 12 most populous of Texas' 254 counties. These regions include the major metropolitan areas of Austin, San Antonio, Dallas, Fort Worth, Houston and El Paso. Travis County, home to the capitol of Austin, has a population of over 1.3 million which has grown over 30% from 2010. 

TaxRates.org statistics show each of these 12 most populous counties have property tax rates higher than the statewide average. Travis County has a rate of 1.98%, 9% higher that the statewide figure. 

[Ravi860]

19 minutes ago, areyentiraidhi said:

 

 

Texas Gov. Greg Abbott | Facebook

 

Texans have voiced concerns about high property tax rates and as the gubernatorial race winds down, both candidates have put the matter high on their agenda.

Their solutions for easing the problem, though, are very different.

During a September debate, Republican Gov. Greg Abbott promised to use state budget revenues to buy down property tax burdens for homeowners. 

“Texas is sitting on a $27 Billion SURPLUS because of our record setting revenue,” Abbott said in a recent tweet. “We will use much of it to deliver the largest property tax cut in Texas history.” 

Democratic challenger Beto O'Rourke suggested increasing the tax burden on commercial properties, adding new revenue streams such as legal marijuana, and expanding medicaid. 

Texans are not wrong when they think they’re paying higher rates than people in other states. TaxRates.org reports that Texas' median effective residential property tax rate in 2022 is 1.81%. Median effective tax rate is a measure of the percent of a home's market value that is collected by taxing authorities, meaning any tax exemptions on the property are factored into determining the rate. 

California and Florida — two states often compared to Texas because the three are the most populous — both have lower effective property tax rates than the Lone Star State, with rates at 0.74% and 0.97% respectively. 

World Population Review says about 64% of Texans live in the 12 most populous of Texas' 254 counties. These regions include the major metropolitan areas of Austin, San Antonio, Dallas, Fort Worth, Houston and El Paso. Travis County, home to the capitol of Austin, has a population of over 1.3 million which has grown over 30% from 2010. 

TaxRates.org statistics show each of these 12 most populous counties have property tax rates higher than the statewide average. Travis County has a rate of 1.98%, 9% higher that the statewide figure. 

Already unnadu ga Ipudu Em chesadu 

[areyentiraidhi]

 

[Thokkalee]

Plan is to give some amount back to the property owners and spend the remaining on infrastructure.. 

[BommaliNinnodhala]

1 minute ago, Thokkalee said:

Plan is to give some amount back to the property owners and spend the remaining on infrastructure.. 

you happy kada man - that is important—

[Thokkalee]

1 minute ago, BommaliNinnodhala said:

you happy kada man - that is important—

Pedda difference undadu bro.. may be few hundred $ isthademo, that too if everyone agrees.. it won’t make much difference..

they have to decrease the property tax rate to make a difference.. But ma area lo 2.25 property tax rate..  chala areas lo 3% undi.. 

[Rushabhi]

9 minutes ago, Thokkalee said:

Pedda difference undadu bro.. may be few hundred $ isthademo, that too if everyone agrees.. it won’t make much difference..

they have to decrease the property tax rate to make a difference.. But ma area lo 2.25 property tax rate..  chala areas lo 3% undi.. 

state taxes levu corporate breaks isthunnaru money ekkadi nunchanna raavali ga. Property tax rate taggincharu antha easy ga

[perugu_vada]

3 minutes ago, Rushabhi said:

state taxes levu corporate breaks isthunnaru money ekkadi nunchanna raavali ga. Property tax rate taggincharu antha easy ga

Texas lo real estate value baga perigipoyay .. income meda state tax ledu ani .. house meda property tax like 2-3% collect chesthu dhochesaru .. previously house rates used to be 250-300k .. Ipudu minimum 550-600k ayyay .. 4000-6000$ undedi Ipudu 12k-18k ayyay 

[BommaliNinnodhala]

29 minutes ago, perugu_vada said:

Texas lo real estate value baga perigipoyay .. income meda state tax ledu ani .. house meda property tax like 2-3% collect chesthu dhochesaru .. previously house rates used to be 250-300k .. Ipudu minimum 550-600k ayyay .. 4000-6000$ undedi Ipudu 12k-18k ayyay 

Rich and highly skilled labor ki those taxes are Aath care man —

[Thokkalee]

5 hours ago, perugu_vada said:

Texas lo real estate value baga perigipoyay .. income meda state tax ledu ani .. house meda property tax like 2-3% collect chesthu dhochesaru .. previously house rates used to be 250-300k .. Ipudu minimum 550-600k ayyay .. 4000-6000$ undedi Ipudu 12k-18k ayyay 

Upto 500K or 600K homes ki property tax rates thagginchaali… so that middle class people don’t get hurt.. they are already hurt with inflation.. 

[perugu_vada]

1 hour ago, BommaliNinnodhala said:

Rich and highly skilled labor ki those taxes are Aath care man —

But it affects middle class man .. just rich kosam ani chusthe state govt kuppa kuulipotundi

21 minutes ago, Thokkalee said:

500K or 600K homes ki property tax rates thagginchaali… so that middle class people don’t get hurt.. they are already hurt with inflation.. 

to be frank like 6yrs back 500k house in Texas ante wow .. vaammo ane vallu .. as it deemed to be for kind of upper middle class .. Ipudu avi marginal autunay single family houses kuda .. Ala cap petali ante Red state ga unapude alanti amendments petali .. once it turns blue, kashtam emo anukuntuna 

[Thokkalee]

50 minutes ago, perugu_vada said:

But it affects middle class man .. just rich kosam ani chusthe state govt kuppa kuulipotundi

to be frank like 6yrs back 500k house in Texas ante wow .. vaammo ane vallu .. as it deemed to be for kind of upper middle class .. Ipudu avi marginal autunay single family houses kuda .. Ala cap petali ante Red state ga unapude alanti amendments petali .. once it turns blue, kashtam emo anukuntuna 

Govt can’t set a cap.. Market decides the prices based on supply and demand.. 5-6 years back richwoods lo 500-600K ki big homes vachaayi.. Red states lo assalu pettaru alanti caps, pedite blue states lo ne pettaali to increase affordable housing.. 

[veerigadu]

Middle class ki cream biscuit saaakuuuu. Real beneficiaries will be million dollar ultra rich.

 

Idhiiii republicans game since time immemorial. dump thatha tax reform lo kudaaa jarigindhiii adheeee.
 

gavvaniiii li88888 Dallas lo desi galluuuu monthly 100 thaggayiiii adheee saaal ani happy feel avtharuuuu. Low IQ galleee republicans fans anthaaa

[Thokkalee]

1 hour ago, veerigadu said:

Middle class ki cream biscuit saaakuuuu. Real beneficiaries will be million dollar ultra rich.

Idhiiii republicans game since time immemorial. dump thatha tax reform lo kudaaa jarigindhiii adheeee.

gavvaniiii li88888 Dallas lo desi galluuuu monthly 100 thaggayiiii adheee saaal ani happy feel avtharuuuu. Low IQ galleee republicans fans anthaaa

Repubs are business friendly, especially small business friendly… anduke konchem middle class ayina prathi thellodiki oka business untadi Texas lo.. they save a lot on taxes and put it back in the business.. there is a reason why thellas are voting for repubs for a long time.. 

unfortunately, the fringe far right wing is taking over the republican party and they are making more noise than ever before.. same with Dems as well where far left is taking over.. 

[Ichigo]

5 hours ago, perugu_vada said:

Texas lo real estate value baga perigipoyay .. income meda state tax ledu ani .. house meda property tax like 2-3% collect chesthu dhochesaru .. previously house rates used to be 250-300k .. Ipudu minimum 550-600k ayyay .. 4000-6000$ undedi Ipudu 12k-18k ayyay 

texas property taxes single income tho 600k+ houses konevallaki chukkale unless they make a lot..

property taxes will be like second mortgage for homes in coming years

desis avesa padi 800k-900k homes kooda kontunnaru ,adi Leander , George Town lanti outskirts lo , property taxes will be too high after a few years like 6-8 , manollu tunnel vision tho property appreciation unte chalu anukuntaru, infront crocodiles festival..

Renting is probably best in Texas , you do not pay state tax and you do not pay property taxes as well