So, you don't want fire department responding to your home? You don't want any police protection? No public education? You don't want any other city, county or state services? Those aren't free. They cost money. It has to come from somewhere. Income tax? Sales tax? Business tax? Driving violation fines? Tolls on every street?Where did you want it to come from? Sorry, move to a country or state where they don't provide any services at all.
So then _Poor people, Black people and other Minorities_ pay for my home? Sales Taxes rise prices on _Basic Staples._ I think I prefer Ohio's approach, everyone should pay their fair share, of course I want my property taxes to be low but I want to be able to *EAT TOO!*
@@richj120952 difference is fire, roads, any other tax is capped at a percentage. 2 or 2.5% so if a fire district is getting 8.04567 per 100 dollars in value, and the appraisal goes up too much to where the tax payers are paying over that threshold. The Fire district has to go down on thier rate to compesate for it to where the home owner is not out more than 2% more than the previous years bill. This includes everyone but schools. Added to that most fire districts are capped at like 3 cents on 100 dollars. Other than the few fire districts that voted in and became Emergency Service Districts before it was made mandatory. Thoes few get up to a 10 cents on 100 dollars.
I'm in Texas and our property taxes are outrageous. My monthly mortgage payment is $545 more than it was 2020 because of tax increases. We don't have state taxes, but paying 10k a year in property taxes more than makes up for that savings.
I was going to say the same thing. My management team and Vice President were going to move from California to the Dallas area, then I warned them about our property taxes and they realized that the move wasn't as good as it originally sounded.
You got it wrong man. I live in Texas and what’s going is that the central appraisal districts(CAD) have been accused of fraudulently over assessing home values in order to generate tax revenue. This is one reason home prices have skyrocketed here. Since 2020, my home assessment has risen about 10% year over year. The school districts in Texas are funded 100% by property taxes. The Texas comptrollers office has been accused of pre-determining the needed revenue and then the local CADs have been assessing homes to meet the revenue requirements instead of accurately assessing home values. They’ve been backing those numbers in to make the revenue work. The Texas comptroller probably knows that they have been caught and I suspect they are trying to back out of this shit show. The worst part is that this state is riddled with municipal school bonds and when this thing implodes, they’ll default on those bond payments which will destroy pension funds and local budgets. Lawsuits are already in the works.
That’s crazy 🤦🏾♂️ I always appreciate local perspectives because it’s the only way to get the info that the media doesn’t share. Thank you so much for sharing.
@blackrealestatedialogue , when the Texas government proposed the $100k homestead exemption, I didn't take it seriously. I was blown away when the tax appraisers added over $150k to property values for my home and others in the neighborhood. We were targeted and it turned that tax break into a bad joke. Texas government should eliminate property taxes to end this fraud and cut its budget by 50%. We can't afford the size of government and should own property with zero rent payments "taxes" on it to the government
In addition - Harris county and city of houston are going up on taxes to pay off debts and disaster debts . Also, if you live in a new development you pay MUD taxes added … I pay two MUD taxes … for a 500,000 home in the suburbs of houston … you are looking at easily 15k taxes . It’s not cheaper to live in Texas In addition… all of our school districts have a deficit and the war for school vouchers is real right now. If they were to actually eliminate property taxes, the real question is which one because when I look at my property tax bill, you don’t have just one bill there is the school district the community college, the port authority and city etc. it’s many taxes combined in one . So the question is are we just eliminating the school district which is the highest rate one and if we were to do that as a mother that means our schooling system would be very difficult and we’d still have to pay out for private school, which would cost more and right now we don’t have any great public schools because Houston and Dallas pay out to the rest of the state smaller districts in a Robin Hood scheme And the state is supposed to pay their part of the funding each day and they have not been so if you were to remove $81 billion then that just tells me that we would have no money for schools -
@phillipmatthews8341 , nobody can sell their homes at the appraisal values in my neighborhood. I know a homeowner who has been trying all summer. That means the tax appraisers have fraudulent numbers. They are taxing on unrealized gains at a make-believe value! It is Unconstitutional and the same as the illegal taking of property by the government.
If you do not have children in the school district that you live in , then you should not have to pay school taxes. The moment your kids graduate, the school district portion of your property taxes get removed.
I'm 100% in agreement with you. I have kids and I plan to have more but I don't think single people should have to pay for my children education. If this does happen, I'll pull my kids out of public school right away because they can learn more being taught by my wife than public school. But these teachers union and the public school ponzy scheme is fighting this so they can horde the money instead of actually using the funds to provide nutritional food, proper school supply, and pay teachers accordingly for the things they have to deal with, especially those that are middle and high-school teachers.
@@e3underground453 Perhaps, but think of it this way. Abbott SO wanted "School Vouchers" as part of the Tax legislation, so much he held what, 3 Special Sessions and wouldn't sign the bills that the legislature came up with? Why was that? Maybe the "For Profit" school companies, which can teach this radical Rightwing curriculum without oversight? The value of the "Vouchers" would exceed the amount of Property Tax paid by these individuals applying for them, by several thousand dollars? Renters that pay no Property Tax would get annual vouchers worth $8-9k? And who makes political donations TO Abbott to get this legislation passed? Kinda sketchy at best, downright criminal at worst.
This is one of the dumbest solutions I've heard. Education and children are important for society, even if you don't have them yourself, you benefit from more educated people being in society. Imagine if no one could read or write, society would grind to a halt. Second if you're going to go the route of family responsibility, which I fully support, get rid of the tax entirely and don't have public schooling. A middle ground imo would be to reduce property tax significantly, and only have public schooling for those who can't afford it. Adults, I'm perfectly okay with completely removing their social programs, but children have no agency and therefore need help from society, especially due to inadequate parenting
And if Kamala gets elected she wants to tax you on the unrealized gain from $45,000 to $450,000. That’s about a $400,000 gain she would tax at 25 percent!
I agree! Same with my house. I payed $69k in 1993. It's a 50 year old house. Now, they say it's worth $550,000. The siding is crumbling, it needs a new roof. So many smaller repairs needed, and it still goes up! I have 3 acres in the county, and in the last 5 years, the land went from $5,000 and acre to $55,000 and acre. This is crazy!
@@cindyjohnson5242 Reduce property taxes but don’t eliminate it because high sales tax will increase the price of goods for every one which isn’t good either.
@@rickysrighteyebrow8167 i seen that as a contradiction. I had just watched as texas is getting sued for tax fraud. I took your statement to mean you supported tax. Not really a reading comprehension on my part just misinterpreted your intent. Whoops.
Not really. Texas has a balanced budget amendment and a Sunset Commission. These two things work together to keep Texas as an income tax free state. The state isn't allowed to spend more than it brings in, and the sunset commission audits departments to ensure they are still providing the function that they were designed for, and closes them down if they are not. You should also learn to not be a disrespectful git, such as your other comment.
School districts and city governments are fat with all the money generated by these ever-increasing home prices in property taxes and they don’t want to give it up but I maintain we should cut funding from property taxes by 50% and make schools and and cities curb the appetite for excessive spending
@@donvineyard8654 they do. But we also spend an unimaginable amount on the border and illegal aliens. Especially health care and schools for them. We could easily cut 25% of the budget if we fixed that.
How about reducing school spending. When schools have a 1 to 10 million dollar budget for sport stadiums and athletic programs. We are using way more money on the few that may possibly make a living in sports, than the many that are going to make a living in real jobs.
School district spending is out of control. And Texas isn’t even ranked in the top half of schools in the country. We build massive football stadiums because that’s what parents are obsessed with, but they ignore real world educational programs that can offer certifications before they even graduate high school!
It's crazy how so much money can keep going to school, many of which are failing. Seems like we have lost sight of the priority which is providing each child with a great education.
@@TStLou1 That RIDICULOUS!!! It's like parents have become addicted to football and are living vicariously through their children. Unfortunately, that means the tax payers are on the hook for it
@@motley06 yep! They also wayyyyy overpay school board administration, wayyyy underpay all their teachers, with one caveat, the High School football coaches… who are generally paid three to four times as much as advanced sciences and mathematics teachers, and who generally teach PE, Health, Drivers Ed. or History or any other useless Liberal Arts or elective class that’s easy as fuck and your average eighth grader could teach themselves through online self-study, in addition to coaching the Varsity Football teams… think about how fucked up our priorities are as a state when Physics and Mathematics/Calculus teachers make the same shitty $55-65k per year salary as your Art teacher helping Kindergarten students finger paint and color, while your Football head coaches are pulling down $165k on average!
This is a pretty simple problem to solve. Legislators need to stop thinking about how much they are losing and start thinking about cutting spend. Also, people who use Government Schools should be the only people paying for it, not people who will never use the schools. That would be a huge help and stop the extortion.
I am a landlord in Texas. From my 2 rentals I'm making $65,000.00 per year. The problem is they take 21,000 in taxes, over 5000 in insurance, and you can't really raise your tenants too much because of competitive rentals near by. That's just over 33% of the income. That does not include the federal taxes you have to pay which is 18-22%. All in all, you are paying around 50% of that income in taxes alone. To live off of rentals where I am you need to have at least 5 rentals or more to just get by. Especially with inflation and higher prices on food and fuel and monthly bills. If we had a state income tax itself, you would be looking at paying 60-65% of property income to taxes and insurance. Insurance in Texas has gone up over 30% the last 3 years alone. Those rental property taxes increased as well since 3 years ago. I try not to burden my tenants with increases, but I don't have a choice at one point. If someone has rentals with a mortgage, guess what, you will only make 20-30% if you are lucky which on 2 houses is very little left over.
@@kokonanana1They don't, if they're Homesteaded. School Tax goes away after 65. I personally think it should be lower than 65, but you'd be surprised how many 50+ years old guys are knocking up younger females these days!🤣
Correction to your information. The $100,000 exemption in Texas is only against the school tax amount. You still must pay the full amount for county, local, and special assessments. Only saved $700 last year on 450k house in san antonio,tx last year, but of course it increased the property assessments this year and bam we only got a break for ONE year. These legislators are sneaky as sht.
@@itmakessense2823 the budget is more important when determining your tax bill than the appraised value. The budget is set long before the appraised values so even if your home goes up or down the amount they collect in total is based on budget. That is why the tax rate is set at the end of the process because they need to adjust it based on total home appraised values and budgeted amounts. People focus so much on appraised that they don't realize the budget is what they should be focusing on.
In the private sector there is something known as economy of scale. There is no such thing in a collectivist system as everything becomes more expensive the larger the system gets. Corruption and inefficiency reign and accountability doesn't exist in any real way in these systems. I live 100 miles up the road from you and despite multiple international HQs relocating here, hundreds of thousands of new residents and home owners and new businesses, all of the taxing authorities are always short of money. Schools have 'shopping lists' of supplies they want kids to bring to their $25M elementary school. They are like drug addicts with a gambling addiction. You can give them a $1000 on Monday and by Friday they are $2000 in debt and can't tell you what happened. We don't need these people spending so much of our money on our behalf. They have no respect for it or worse, they steal it.
In the 1990's the lottery was introduced in texas. I remember when i was a kid the commercials stated that property taxes would fall because school districts would now be funded largely by the new state lottery. Texans already know what happened. Property taxes only went one direction and it wasn't lower.
@@elizabethvail9046 Look up Article 7, section 1 and Article 8, section 1-e of the Texas Constitution. I never mentioned Gov. Richards. On paper the Texas lottery was a great idea but it has been turned into a scam because it generally affects those people in lower socio-economic backgrounds.
Allowing governments to tax property means you're not allowed to own property. The item in question becomes the taxing government's property and you're just renting it from them. Eliminate ALL property taxes.
I fell like you still own it but more of a more civil shake down. Way back during the start of civilization you had the military go to you where you had to pay for protection. Either away it does feel gross.
@@blackrealestatedialogue- so allowing government to tax income means you're not allowed to have income? That is the irrationality here. In the choice between racing income or property, tax property. Ohioo should eliminate the income tax before touching the property tax. Income taxes prevent people from accumulating wealth, while property tax is a tax on wealth.
@@Drew-gi5dwit’s a tax on unrealized gains basically. You don’t need to have property taxes or state tax use sales taxes it’s fair everyone pays the same percentage
What needs to happen is to eliminate the Central Appraisal Districts and lock the tax value of a home at the purchase price of the home. If governments need smore money, they can put it to the voters to increase the rate.
I got my home from my grandma 4 years ago. Year 1 I payed 1587 in taxes, Year 2 I payed just over 5k, Last years I payed jus lt over 10k, This year they are saying 8.9k and its not even December. Tax IS theft! Property tax needs to go or cap at 1k. If this doesn't happen everyone will at one point loose their living situation.
@@firstname7470actually a lot of school property taxes do go to illegals. It does here in Texas. Legally we can’t deny their kids access to public schools (SC decision I believe). And there are lots of them in TX schools. We have friends who are in our same school district but a different part of it. 10 years ago they ended up having to transfer their son to a different elementary school because he was failing classes. His classes were about 80-90% non English speakers so the teacher was spending the majority of class time teaching in Spanish. After he got transferred his grades went from Ds and Fs to Bs.
An older man years ago said you young people that vote for school bonds haven't lived through a depression... yet! Many people lost everything to property tax!
If Texas does cut the taxes by a given amount such as the $100,000.00 then the county Appraisal District they will simply raise the Property Value enough to more than make up for the cut.
@@dwdwone No, it's capped at 3% but democrats used the recent storms as an excuse to raise it around 9% because of a storm clause. Of course they didn't defund any government programs or lay any government workers off they just took more money from its citizens and gave themselves a raise as well.
State governments like federal government needs to cut spending. Stop increasing school budgets every year. Stop building school swimming pools, football stadiums, stop paying for local sports teams stadiums. We need to cut spending dramatically.
I have lived in the same Texas home for 25 years. Yes the 100k exemption helped. I also understand the senate saying it will be tough to come up with 80 billion to replace property tax. But, my property value has tripled in 20 years. That means my taxes have more than tripled because tax rates have gone up along with value. So even with the 100k exemption the taxes have outpaced income growth. Basically the state, county and school districts are getting 3 X tax revenue. I personally don’t know anyone making 3 times more than they did 20 years ago.
Hopefully they’ll keep buying it down each session if we have surpluses. Though I wish they’d invest it long term so the investment income could replace school property taxes.
We need a constitutional amendment to limit tax to wages and never more total taxation than 25% (federal, state, etc.) All together. Cut gov by 50%. Stop the stealing of our money! It is corruption.
I was forced to sell my home in Houston because the taxes kept jumping up year after year, it got to the point where they almost tripled from when I first bought the house. I sold when I was paying $6000 a year on a house I bought for $174,000, the monthly escrow was killing us. I had a second job to help keep our heads above water. How about the government stop overspending? There's got to be a way to cut programs that are not really all that important.
This is why they will never get rid of property tax. When the land value goes up, they want it back. What a scam! They want the ability to price you out of your home.
Absolutely! Taxes are being spent to benefit certain communities while forcing others to foot the bill! We need to get back to fundraisers and private grants used to create these projects.
The gaint ugly white bridge they built in Dallas also was a major waste of tax money. They built bike bridges too near north haven in Dallas - 1+ million area - again waste of tax money when it has homeless people all around the area trashing it up but they don’t do anything to help. they should spend taxes on the homeless problem.
I’d rather pay increased sales tax than have some scamming school district trying to steal my home over $2500 in property taxes. A home I paid 700k over 30 years to buy.
agree-delete property taxes and do a 1% flat income tax that cannot be waived-to fund schools-if schools do not produce educated students, no more football
Property Taxes here in Texas can be fucking ridiculous. I live in a small town of a little over 3000 people, there is nothing here, the nearest walmarts are 30minutes up the highway either way, we have a Dollar General that is poorly managed and barely open, we have a Valero Gas Station, and 3 small family owned restaurants. Our property taxes on our $213k home were fucking $6000 last year! That's $500/month on top of the mortgage. In a town that has fucking nothing in it! And this was AFTER the homestead exemption
I like that your taking this issue up. My wife and I have gotten very involved with our local property tax issues with TAD (Tarrant Apprasial District). North Richland Hills is next door to us and under TAD. Problem is the politicians are just playing games. Abbott speaks well but then crushes things when the cameras are gone. On the local side political leadership as well as TAD members both the ones appointed by local taxing entities and the new elected at large members, keep playing games. We have had to marshal a lot of local tax payers to attend meeting and to push them to keep their election promises. Off the top of my head I would have told the woman from the video to see if her homestead exemption ACCIDENTAL fell off her account. That happens a lot with TAD. They also reappraise every year and raise EVERYONES taxes and then see who comes to protest. They play games with protesting of taxes. If you Don't understand what they are doing you get screwed, but if you understand their game it's easy to protest. It's unfair to busy people just trying to survive. There are also games with conflating terms to make it seems like they are taking action to help when they are doing the oppusite. We do have a rapidly growing group of people in the community who are educating themselves and others and getting active on this issue. One last personal thing to add. I know Texas needs funding mechanisms and I don't think property taxes need to be completly removed if a better system can be adopted.
It's crazy. I live in Texas and most natives have been taxed out of their homes. To change it now kinda just locks in people not even from here. I support the move to end it just sad for so many that already lost their home because wealthier people moved in to our state.
Same. I’m in Texas in Bexar County. I feel like our Tax Assessor, Albert Uresti, might as well be a mafia boss. He and his two brothers, also in Tx government, have faced convictions, prison sentences and accusations of financial corruption. And, he parades around the city of San Antonio like he owns it. He was heavily and gaudily awarded medals, sashes and awards for his role as Assessor during this years Fiesta celebration. I can’t help to believe that he orchestrated the whole narcissistic event. Meanwhile, I wholly own my home and pay $1k/mo in taxes. I homeschooled my boys and never made use of the school district for which most of my tax dollars support. It’s very frustrating. Texas does not have State Income Tax. It feels like property owners are burdened with making up that deficit in the State’s funding. Citizens used to keep 100% of their earnings prior to the inception of the Federal Reserve and the IRS in 1913. Both are private entities and not federal at all. The IRS was voted into authority in one of those famous Friday midnight sessions that no one knows anything about until after it’s done. Read ‘The Creature from Jekyll Island’ by G. Edward Griffin for that story and more.
Texas is running a shell game on taxpayers. They made such a big deal about increasing the homestead deduction, but there was a long lead time, so the appraisal districts had time to magically jack everyone's values beforehand. I built a home that was completed in May 2022. My valuation the following year was $180K above what I paid for it! When I protested and provided documentation of exactly what I paid and the final appraisal, they knocked off $100K and acted like I should be thanking them. How can we protest when their secretive, magical valuation algorithm overrides an actual on-site appraisal? And normally, with homestead exemption, they cannot increase the value beyond 10%, but it doesn't seem to apply in the first year. I am now paying far above what I budgeted for property taxes and will eventually need to sell the house I worked decades to purchase because I can't afford $1000 in property taxes every month. For most Americans, their home is the #1 asset for building wealth and stability. Texas undermines this with it's high property taxes in lieu of income tax. They pretend like that is a better deal, but it's only better for those with a very high income, i.e. their crony donor class.
Democrats like to tax and Republicans generally don't. If democrats had their way they would take everything and make you work for nothing. They like cheap labor and big government. It benefits them and their position of power.
If you built the house in May 2022 that counts as a property improvement for the Jan 1 2023 valuation. So yes you do get a big increase in the assessed value because it went from raw land to land + structure. And they appraise it at market value at that point. What was your 2024 valuation? A 10% increase?
The counties compensate for the $100,000 reduction merely by jacking up appraisals. I have not seen an effective drop in property taxes for my home year-over-year. Eliminating property taxes will require state legislators to shift pension funding to sales taxes, and that rate will need to be increased massively. We would need to centralize education and eliminate ISD's and consolidate the hundreds of bonds into a state managed system. I don't think there is a political will to accomplish this. In addition, whichever the minority political party, it will throw a wrench in any plan just to score points and garner power. Too many variables. Too much judicial interference potential.
The elephant in the room is that our school districts are way too pricy for what they do. Why dont school districts share facilities like performing arts, some athletic facilities, etc? Why are new school buildings built like the Taj Mahal? Need to get rid of federal mandates and teacher union demands to return to true local control.
@@blackrealestatedialogue be sure to check out Eagle Mountain HS north of Ft Worth. In their defense, its a hot RE area and the school should fill fast. But for $270 million? Cant imagine what their taxes will be like
Schools within a district do share facilities in more populous areas. Don't forget every school had to be fortified like Fort Knox due to school shootings.
@@sportsbettingeducation Texas and Oklahoma have the highest home insurance rates in the nation. You clearly haven’t received your latest policy renewal. When you do, you will receive a 40% increase, minimum. Property Taxes are high, but they do not increase at the same rate as property insurance.
@@sportsbettingeducation I own a home in Texas and my insurance is way more than my property tax. Just depends what your exemptions are on the property tax.
I live in Texas and it’s 8.25 current sales tax. I pay $13,456 a year in property taxes and MUD tax on a home the appraisal district says is worth $470k that I have on the market currently for $389k and I have 0 offers. House is built in 2015. You know what they say? Well builders are selling the comps for $500k come to find out that’s another scam Builders lost a new home for $500k, buy down the rates and offer all kinds of discounts to sell the home and still report the house sold for $500k when it sold for $400k and the person buying won’t realize it till they get a bill 2 years later with the “ new value”. I’m speaking from experience bro and it’s so frustrating and I have no kids
Appreciate it. Taxes were supposed to be temporary but after WW1 these politicians used it as a way of lining their pockets. Contrary to belief it's not what actually pays for the local services. They tell us it is though. If taxes were the solution why I'm are the richest cities so poor. Bad spending and Gov keeps printing money out of thin air and it's legal and we all pay the price if those actions
The state keeps raising my property value every year when the housing market dictates an increase, but not once have they ever decreased my property value when the market dictates a decrease. The value of my home has increase by 2.5x since I bought it, according to the CAD. I’d be fully n favor of dropping the tax burden placed on homeowners, and move to a system that more equally taxes TX residents across the board.
Yes eliminate property tax because the CAD is not following the law when they are assessing them. They inflate the value of your homes to fit their budgets
I believe I heard they don’t have an over seer. Meaning while everyone else is accountable to the state or someone higher up they have no accountability. 😠
I live in the house that my mom and dad built in the 60s. They borrowed $18,000.00 to build the 2450 square ft, 3 level house in ATX. I bought the house from my dad in 2016 for the money I had in my pocket. The house and land are now assessed at around $850,000.00 to $900,000.00. I'm assuming because of location. When the 3 acre lot across the street from me was developed and 32 houses were built, my taxes went from around $3,000.00 a year to $11,000.00 a year. I had to get a loan against the home that I owned with no debt, just to be able to pay the taxes until I retire. I don't want to lose this place, I was born and raised in Austin and have lived on this lot since I was 18 months old. 😥😥
12 states just got caught including Missouri For defrauding property owners by useing a Scam they came up with 🤔💡over 30 years ago to inflate 🎈property values using a computer model 👩💻with false manipulated data 🤥 The corruption trial went clear to the State Capital..🫣 Then the county's were ordered by the Missouri Supreme Court 🧑⚖️ to refund this year's overcharge tax payments ..💰💰💰💰💰💰💰 Johnson County Told 6000 home owners that they couldn't refund this years over payment🤷♀️ because they had already spent the money 🤷♀️ the day they received it..😯
Let me own the property. Definition of own is it can not be taken from me by any means such as property taxes. Sales taxes put me in control. I can decide not to buy.
not only homestead exemptions, but also exemptions for over 65, certain military exemptions, handicapped exemptions, and ag exemptions. Senior citizens can also defer their taxes.
We have owned our home since 1977, and yet we’re still paying taxes… I’m fed up.! These high schools DO NOT need stadiums that compete with colleges. Not to mention I haven’t had any children in any school in over 20 yrs. I do live in Texas and haven’t seen any so called relief. Just flat fed up with all taxes, starting from my pay check all the way down to my purchases including paid off things.. it’s way out of control !
I love that my State studies the feasibility of eliminating property taxes. Though total elimination is unlikely, their fabian approach of increasing homestead exemptions and lowering rates is much appreciated. The way to completely eliminate school property taxes is to eliminate public schools. Not popular. Another solution would be ask parents to pay a portion of the bill. Also, not popular.
Im in texas and bought my house for 100k. The appraisal district says its worth 400k and charges me taxes on the imagined unrealized gains. They even have a label on my house that says year 2000 equivalent new or some such so they can tax it more. my taxes are more than my house payment. they say they have a cap on taxes, yet they can raise taxes over 20% in one year. I am for replacing at least some of the property tax with consumption tax. I also think the taxes should be based on how much the house was bought for; currently, when a house is sold, you can immediately get the taxed value set to the purchase price. Why not have that be the tax basis? Sure, government wont like it but they cant keep squeezing blood from stones - it's not right.
Major reform is necessary starting with property taxes and ending with school funding. I used to substitute a while back and i assure you these school are so out of hand with spending and level of education provided. I genuinely dont and couldnt understand why anybody would want to teach anymore.
They do over spend. They even sell their old electronic equipment for cheap to get new ones for their budget increase. It’s ridiculous over spending. They need to budget on a smaller scale. Decrease the administration’s pay, increase teachers pay, decrease coach’s pay, reuse all equipment until it doesn’t work, stop making new stadiums cut the funding for football. Increase in music electives ( this helps with brain development) decrease in musical theatre and theatre, increase in shop classes and college level electives. We need more in our studies and less on sports. We can have it just not at the level it is. It is too much. It’s crazy!
Yes, They gave a property tax cut at the state level, but then the local tax assessor appraised the properties 75% higher, which in turn caused morgage payments to increase. Mine increased by $129 a month.
I don’t mind paying taxes, but we only get like 1/2 the value of what we spend. Really like to see reports on how money spent but so much is just unaccounted for.
@@richardmenz3257 taxes never existed in America in America until a president signed a bill he never read!!! Bills should never be read and accepted because they all contain fingerprints of illegal laws from criminals that cause starvation, death, disease, and wars, and homelessness!!!
@@SLM-hf1cr It prob right sadly overhead is expensive so the more you give the less it cost per unit given. So maybe what would be more accurate is 1/2 of what is spent goes where they say while other 1/2 going to line pockets n what not.
My property taxes exceed my mortgage. $1200 per month for a house I bought for $250,000 10 yrs ago. They say my house is worth $680,000. Houses are selling $420,000 in my neighborhood. My mortgage is $1100.
You need to protest that valuation. Sounds like you have favorable comparable market values so that should be a slam dunk to get your valuation reduced.
@@SkunksterPlaysPoorly Unless that valuation is intentional to keep that budget. Then it doesn't matter, they're just going to hose you simply because they can.
@@blackrealestatedialogue Asking "what about the funding" is like asking "but how's all the cotton going to get picked". Dunno. Doesn't change the fact that if we're a society that values private ownership all taxes on privately owned assets are a problem because they effectively turn owners into renters with the state as the lessor.
The state should get funds from the tax that we pay to the federal government. That money should be for schools, roads and everything else.... instead of funding foreign wars...
@@Akutukananuyeah bro it’s not joke, my dad is 100% disabled military so he doesn’t pay property taxes, he just puts the money he would pay away, and has saved 130k in 11 years since being 100% disabled. i know a lot of texans could use that type of tax break.
@motley06 right!? They vote for it and then they complain. They don’t understand they will be paying for it. They think money comes from thin air until they are stuck with the bill. Or their kids are. 🤦♀️
From a Texas home owner who has battled the county Appraisal Review Board, Texas unconstitutionaly taxes property owners on unrealized gains in property value. That is what truly harms most property owners. Example: I built a home in 2018 for $280K , then a year later it was revalued by the county at $450K. Granted Texas has a 10% raise cap annually, but none the less you are guaranteed a 10% increase in property taxes every year; even when economic downturns lower values. That's because it never lowers more than it's going up. NEVER. So a $2K a month house note on a 30 year fixed one year will probably go up one or tho hundred a month the next year and again each year afterwards. Residential property taxes should be frozen until the value gain is realized.
The 22% sales tax could be considered a consumption tax. You don't pay it unless you buy something. Frugal people would pay hardly any sales taxes while people who can't control their spending would pay lots of taxes. It doesn't sound fair to people who LIKE to spend all their money but maybe they would slow their crazy spending.
Consumables are groceries, gas, etc. things that are bought and used up with no intrinsic value. 22% sales tax is a consumables tax that only serves to make poor people poorer (mostly seniors, disabled, low income wage earners such as those still only making less than $15-20 per hr in TX. The only people who can afford a consumables tax are those with wealth and high earners (over 100k).
@@FL-Mimo I would need to see the math to back your argument. Does a 22% consumable tax rate equate to spending more even while saving $150-400+ a month not paying property tax?
@@gs-pd5ox I think you have forgotten to consider that most low income people do not own homes. Property tax is not the same as sales tax, AKA consumables tax. These are apples to automobiles comparisons, and so "doing the math" is irrelevant, especially considering that if landlords and apartments do pass along property taxes to tenants, they are not held accountable for that math and capable of charging whatever they choose (if private landlord) and some market rate that actually never shows property tax if an apt complex corporation (in other words, apts and landlords never show a breakdown of what is being charged for rent.)
@@FL-Mimo my point still stands. Renters are paying property tax rolled into the rate. I agree that there would have to be a breakdown and there is no guarantee that landlords wouldn't still charge what they could get, but that doesn't mean in a perfect world the math doesn't work. Just doing the math on my personal situation I would take that trade and probably save $1000+ a year. And that is with all things being equal. If I really stuck to a budget I would save even more. The less you buy the more you save. At the end of the day you would be responsible for how much money you spend in taxes instead of some agency and their arbitrary numbers. There would obviously have to be language that makes it illegal to not deduct property tax savings from rental rates or there would be no point.
Texas home owner here, who owned homes in MO and AR. I’m on a fixed rate loan at 3.2% in TX. My property taxes are higher than my loan; insurance not helping either which is higher than I paid for MO and AR. The homestead exemption only reduced my mortgage by $130 a month. Every year I have to fight over my home assessment to keep my house worth low enough to not make my mortgage unaffordable. You know how many times my mortgage changed in Missouri and Arkansas? 0 times. My mortgage changes every year in TX due to outrageous taxes and insurance. Texas property taxes are out of control and it’s expensive to live here.
If a county or school district forecloses on a property taxes, they should be forced to pay the FMV of the property to the owners. Any politician who fights any change including that tool that snapped his fingers is profiting off of foreclosed properties. Follow the money
No one should lose their home from property taxes. This situation is seriously demoralizing and worse than a home robbery. Property taxes make home ownership impossible because it completely voids a persons deed to the home. The entire premiss of home ownership is a lie. We're are the Texas rangers...was it not created to protect such investments.
Even if the state eliminate property taxes, there is still MUD, ISD and other taxes. Ultimately you will still pay anywhere from 1.5-2% without the state property tax.
1) Property taxes literally means you are renting your property from the government. It's unacceptable. If that means a 22% sales tax, lets do it. 2) The government regularly reevaluates how much your property is worth. That's like if Walmart comes and tells me that Beanie Baby I bought in 94 is now worth $300, so I need to pay them more. You wouldn't accept it from anyone but the government-because they can use force. 3) How much you pay in property tax should be completely UNRELATED to income. That would be income tax. 4) Everyone else has to live within their means. If it means you don't get new clothes this year, or you've never had Starbucks, or vacation is something other people do, oh well. But the government keeps on taking as though budgets don't have limits. It's absurd and we need to stop it.
TX res. Escrow payment (prop tax and home insurance) is almost equal to 30yr mortgage payment. Insane. You can never own your land in a property tax state. You are just leasing it from the state.
raise the sales tax, spread that burden around. Or charge sales tax on the sale of the home that way if you're not selling you're not paying. Also if you must tax property, do it on commercial property, single family homes, owned by families that are living in said homes, should not be taxed.
I'm concerned if this is being lobbied by the real estate investors who will buy even more home inventory and build even more overpriced apartments - not paying any tax, not spending in the state, raking in the profits from renters and not responsible for public utilities or services those renters use.
As a Texan with a homestead exemption and a disability exemption the taxes have gone down but the appraisal prices have gone way up so every year taxes are still going up , i personally haven’t seen any relief!
22% sales tax is going to cripple a lot of people here and likely immediately throw the state into a recession. There is no good replacement that we can do short of an income tax but that’s a non starter here because they are really unpopular. Maybe more corporate taxes? Since many corporations are moving here lately pushing up the prices of everything.
Yeah thats why I think they need to: 1) make this a gradual transition (and maybe they don’t make it to 100% phase out) 2) exclude key staples, like raw ingredients (so not processed junk food, fast food, but rice, beef, etc), school supplies, etc. 3) the issue with CADs needs to be addressed
I bought land for 60k about 7 yrs ago built a home and a shop with my own 2 hands and am now paying taxes on an over 400k tax valuation. Now basically renting shit I worked my ass off to build. I'd take the sales tax all fuckin day. Tough to say though, 22% could hurt sales of certain goods and thus the economy, so I understand the level of debate needed on the subject and am open to more information.
What is really dumb is that when you don’t even fully own the full value of your home, you have to pay 100 percent property tax on UNREALIZED value. What the hell is that? It should be taxed on the equity you have on the house first of all.
The problem is they are operating of the assumption that they need every dollar they are bringing in and they dont there is so much waste in government its obscene
I’m all for the sales tax increase. You can make essentials like food, clothing, baby supplies, tax exempt to help out lower income earners. People don’t realize that sales tax is also progressive. The wealthy spend more than lower income earners, so they naturally will pay more in taxes. But property tax applies to everyone, even renters. And it’s not right to tax the elderly on a home they bought and paid for 30 years ago just for simply existing.
I’m all for a balanced approach like this lowering property taxes/increase in sales tax, let’s be honest we can’t have our cake and eat it too (no taxes but competent schools, infrastructure work , etc).
Property tax and income tax while simultaneously having a sales tax and a yearly vehicle tax is insane. They just piss our money on other countries. Taxation is THEFT.
When we bought our house, as soon as we claimed the double homestead exemption, our property taxes almost halved, once we turn 65 property tax freezes if a single person earns 25k and less, couples 30k and less. 100% disabled vets ARE property tax exempt, Current Military ARE property tax exempt. Our area also appraises on BOUGHT price NOT appreciation, so my house could quadruple in value, it DOESNT affect our property taxes.
@@mrsmdub75 I don't live in Texas and go to your county tax assessor's office or better yet go online, look up your county tax assessor's office, can even call them.
They will never get to no property taxes, what they need to do is stop appraising homes completely and only tax you on actual paid value. Also once you reach 65 years of age your property taxes should drop to 0.1% or $500 per year . I am debating if I need to sell my home as I’m getting priced out of my neighborhood. Currently living in Colin County Texas and paying a little over $12,000 per year. I moved here from California where I paid $5300 per year, I never thought I would be paying more than double what I paid in California. I’m actually finding out that it it more expensive to live in Texas then California , as home insurance, vehicle insurance, the water bill at $350 per month and only allowed to water twice a week. The city of Celina has to buy there water from Denton because we don’t have the infrastructure to provide our own water. Home insurance double of that in California, vehicle insurance double of that in California. Here I left California not just for political reasons but also taxes , fees, and general cost of living. Now at 66years of age it’s not as easy to restart again with the timeframe in which to do it in. Texas needs to correct the broke system of property taxes.
@@faithfreedom4084 I get ya, it not cheap anywhere nowadays😔. A big problem that folks From west coast don’t Understand. States like Texas for example. They buy a home cheaper because they can get a house for 650k but they don’t realize our property tax’s are 2x-3x what it is in Cali. That’s not including HOA. A friend of mine lives in a nice community, but his property tax per month is nearly identical as his mortgage payment. Imagine paying 2500 a month for your mortgage plus another 2500 for taxes lol. Also our house value keeps going up 10% each year which means our taxes do to 🥲🥲. I can’t wait to leave Texas unless something changes.
150% increase appraisal, Bell county Texas, increased school tax by 1/3!!! Had to remove child from school and do online at home instead of online at school .
@@firstname7470 It increased school taxes by increasing appraised value-they made the new law sound good until the increased appraisal by 150% Had to pull students out of the school as it was so bad. Now need to move -again out of Texas-
In Europe you do not pay school tax unless you have kids in school. My home in Germany is valued at $460,000. I pay $1001 in property tax. But you have value added tax on everything you buy except food. That tax rate is 18%
Not sure what state you’re in but Ohio is proposing some stuff for renters. The subject matter of this video is taxes though. Check out some of my other content I’m sure I’ve covered stuff about renters before
Not sure what state you’re in but Ohio is proposing some stuff for renters. The subject matter of this video is taxes though. Check out some of my other content I’m sure I’ve covered stuff about renters before
I live in East Texas. When the state reduces our taxes, our appraisal district increases our appraised value of our homes and property. My appraised value of my home has almost doubled and my house is only 8 years old.
Actually the property tax cuts in Texas did nothing for us. Our Property taxes go to 4 entities State, County, School District and City (if you live in a city limits). The County Assessor determines how much you owe. So what happened was the State went down but the Counties raised our Assessments for the other 3 entities keeping our taxes essentially the same.
Why would the government need $81 billion to begin with? Perhaps if we slash the government budget that’ll also help reduce the costs of things. School choice is the future of education and with reduced taxes parents could afford better schools for their children.
This is the point that needs to be shouted out the most. When I heard it would cost 81 billion I laughed. The only reason things cost that much is because of all the unnecessary bureaucracy involved in everything. We could cut so many useless government jobs and get these people back into the actual workforce stimulating the economy. These government jobs, which is the biggest employer, don't add anything to the economy whatsoever. That's a huge problem. That's alot of people who could be helping produce and create and makes Texas even greater and the country even greater. The government always overspends and they think they have to do the same here.
Before everyone jumps on the school choice bandwagon wagon, look around and ask does anyone else have it and how are they doing? Louisiana has school choice. Now ask if the status quo is better or worse than LA?
Look up how much money Texas tax payers are "FORCED" to pay for illegal immigrants to be in our state. Medical, Food, Clothing and housing. Cut that and all the other pork belly spending which is a large amount and they could definitely make it happen.
Sales tax is already high in Texas. 8.25%. The primary culprit is home prices going up 200-300% in the last 10 years. Primarily from Californians and New Yorkers fleeing to Texas.
Even if TX did eliminate property taxes, they will make up for it by going up on another tax or creating another tax! They will always get their money!!
I live in north Fort Worth and my property taxes are nearly 9,000$. It's gone up over 3,000$ since we purchased our home in 2017. We purchased the home for 227,000$ and it's valued at nearly 400,000$ now and I can promise my wages have NOT gone up that much. My daughter will be the first graduating class at EMHS and that school is massive. Indoor full sized football practice facility, amphitheater seating in each class room. It's nicer than most colleges. Glad to know that I funded an over priced school and will continue to fund it as long as I live here....
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I would decrease property tax by 80%
Property Tax is rent for living on your property. I bought my house for 160k and now it's worth 500k. With a 10-20% tax on the property. It's painful.
So, you don't want fire department responding to your home? You don't want any police protection? No public education? You don't want any other city, county or state services? Those aren't free. They cost money. It has to come from somewhere. Income tax? Sales tax? Business tax? Driving violation fines? Tolls on every street?Where did you want it to come from? Sorry, move to a country or state where they don't provide any services at all.
So then _Poor people, Black people and other Minorities_ pay for my home? Sales Taxes rise prices on _Basic Staples._ I think I prefer Ohio's approach, everyone should pay their fair share, of course I want my property taxes to be low but I want to be able to *EAT TOO!*
@@richj120952 difference is fire, roads, any other tax is capped at a percentage. 2 or 2.5% so if a fire district is getting 8.04567 per 100 dollars in value, and the appraisal goes up too much to where the tax payers are paying over that threshold. The Fire district has to go down on thier rate to compesate for it to where the home owner is not out more than 2% more than the previous years bill. This includes everyone but schools. Added to that most fire districts are capped at like 3 cents on 100 dollars. Other than the few fire districts that voted in and became Emergency Service Districts before it was made mandatory. Thoes few get up to a 10 cents on 100 dollars.
You shouldn't be taxed on your home. You never own your home as long as you pay taxes. You rent your home forever as long as property tax is involved
I can see how it could feel like you never own it
I see it as the government taking x percent of my property, but selling it back to me out of the goodness of their heart.
@@blackrealestatedialogueit’s not a feeling, it’s how it is
@@El-ahrairah-lc3tgx2
@@El-ahrairah-lc3tgcorrect
I'm in Texas and our property taxes are outrageous. My monthly mortgage payment is $545 more than it was 2020 because of tax increases. We don't have state taxes, but paying 10k a year in property taxes more than makes up for that savings.
I was going to say the same thing. My management team and Vice President were going to move from California to the Dallas area, then I warned them about our property taxes and they realized that the move wasn't as good as it originally sounded.
Every single other state that doesn't have a state income tax has less property tax than Texas. We are just getting screwed in Texas.
You got it wrong man. I live in Texas and what’s going is that the central appraisal districts(CAD) have been accused of fraudulently over assessing home values in order to generate tax revenue. This is one reason home prices have skyrocketed here. Since 2020, my home assessment has risen about 10% year over year. The school districts in Texas are funded 100% by property taxes. The Texas comptrollers office has been accused of pre-determining the needed revenue and then the local CADs have been assessing homes to meet the revenue requirements instead of accurately assessing home values. They’ve been backing those numbers in to make the revenue work. The Texas comptroller probably knows that they have been caught and I suspect they are trying to back out of this shit show. The worst part is that this state is riddled with municipal school bonds and when this thing implodes, they’ll default on those bond payments which will destroy pension funds and local budgets. Lawsuits are already in the works.
That’s crazy 🤦🏾♂️ I always appreciate local perspectives because it’s the only way to get the info that the media doesn’t share. Thank you so much for sharing.
@blackrealestatedialogue , when the Texas government proposed the $100k homestead exemption, I didn't take it seriously. I was blown away when the tax appraisers added over $150k to property values for my home and others in the neighborhood. We were targeted and it turned that tax break into a bad joke.
Texas government should eliminate property taxes to end this fraud and cut its budget by 50%. We can't afford the size of government and should own property with zero rent payments "taxes" on it to the government
In addition - Harris county and city of houston are going up on taxes to pay off debts and disaster debts . Also, if you live in a new development you pay MUD taxes added … I pay two MUD taxes … for a 500,000 home in the suburbs of houston … you are looking at easily 15k taxes . It’s not cheaper to live in Texas
In addition… all of our school districts have a deficit and the war for school vouchers is real right now. If they were to actually eliminate property taxes, the real question is which one because when I look at my property tax bill, you don’t have just one bill there is the school district the community college, the port authority and city etc. it’s many taxes combined in one . So the question is are we just eliminating the school district which is the highest rate one and if we were to do that as a mother that means our schooling system would be very difficult and we’d still have to pay out for private school, which would cost more and right now we don’t have any great public schools because Houston and Dallas pay out to the rest of the state smaller districts in a Robin Hood scheme And the state is supposed to pay their part of the funding each day and they have not been so if you were to remove $81 billion then that just tells me that we would have no money for schools -
Actually it’s the tax laws that the state set up. The law says you must appraise the property at within in 5% of the market value.
@phillipmatthews8341 , nobody can sell their homes at the appraisal values in my neighborhood. I know a homeowner who has been trying all summer. That means the tax appraisers have fraudulent numbers. They are taxing on unrealized gains at a make-believe value! It is Unconstitutional and the same as the illegal taking of property by the government.
If you do not have children in the school district that you live in , then you should not have to pay school taxes. The moment your kids graduate, the school district portion of your property taxes get removed.
You mean that if you single and never had kids in the first place but have to pay "School Taxes" and being ripped off? That's just crazy talk!🤣😜🤣
I'm 100% in agreement with you. I have kids and I plan to have more but I don't think single people should have to pay for my children education. If this does happen, I'll pull my kids out of public school right away because they can learn more being taught by my wife than public school.
But these teachers union and the public school ponzy scheme is fighting this so they can horde the money instead of actually using the funds to provide nutritional food, proper school supply, and pay teachers accordingly for the things they have to deal with, especially those that are middle and high-school teachers.
@@e3underground453 Perhaps, but think of it this way. Abbott SO wanted "School Vouchers" as part of the Tax legislation, so much he held what, 3 Special Sessions and wouldn't sign the bills that the legislature came up with? Why was that? Maybe the "For Profit" school companies, which can teach this radical Rightwing curriculum without oversight? The value of the "Vouchers" would exceed the amount of Property Tax paid by these individuals applying for them, by several thousand dollars? Renters that pay no Property Tax would get annual vouchers worth $8-9k? And who makes political donations TO Abbott to get this legislation passed? Kinda sketchy at best, downright criminal at worst.
Agree 💯
This is one of the dumbest solutions I've heard. Education and children are important for society, even if you don't have them yourself, you benefit from more educated people being in society. Imagine if no one could read or write, society would grind to a halt.
Second if you're going to go the route of family responsibility, which I fully support, get rid of the tax entirely and don't have public schooling. A middle ground imo would be to reduce property tax significantly, and only have public schooling for those who can't afford it.
Adults, I'm perfectly okay with completely removing their social programs, but children have no agency and therefore need help from society, especially due to inadequate parenting
I bought my house 25 years ago for $45,000. It is now taxed at $450,000. That’s a 1000% increase. I wish MY income went up that much.
RIDICULOUS
And if Kamala gets elected she wants to tax you on the unrealized gain from $45,000 to $450,000. That’s about a $400,000 gain she would tax at 25 percent!
I agree! Same with my house. I payed $69k in 1993. It's a 50 year old house. Now, they say it's worth $550,000. The siding is crumbling, it needs a new roof. So many smaller repairs needed, and it still goes up! I have 3 acres in the county, and in the last 5 years, the land went from $5,000 and acre to $55,000 and acre. This is crazy!
@@cindyjohnson5242 Reduce property taxes but don’t eliminate it because high sales tax will increase the price of goods for every one which isn’t good either.
That should be illegal
When eliminating tax becomes a problem then it is an indication that spending and priorities are an issue.
Wtf are you smoking
@@jeremiahbond2810 freedom you df.
@@rickysrighteyebrow8167 i seen that as a contradiction. I had just watched as texas is getting sued for tax fraud. I took your statement to mean you supported tax. Not really a reading comprehension on my part just misinterpreted your intent. Whoops.
Not really. Texas has a balanced budget amendment and a Sunset Commission. These two things work together to keep Texas as an income tax free state. The state isn't allowed to spend more than it brings in, and the sunset commission audits departments to ensure they are still providing the function that they were designed for, and closes them down if they are not.
You should also learn to not be a disrespectful git, such as your other comment.
@@bruceforest7986 its the auditors that are being sued for fraud.
How about reducing government spending 25 per cent and fire 50 per cent of government employees?
Valid questions
School districts and city governments are fat with all the money generated by these ever-increasing home prices in property taxes and they don’t want to give it up but I maintain we should cut funding from property taxes by 50% and make schools and and cities curb the appetite for excessive spending
Reducing spending is a good thing. But Texas runs an annual surplus...a big one.
@@donvineyard8654 they do. But we also spend an unimaginable amount on the border and illegal aliens. Especially health care and schools for them.
We could easily cut 25% of the budget if we fixed that.
How about reducing school spending. When schools have a 1 to 10 million dollar budget for sport stadiums and athletic programs. We are using way more money on the few that may possibly make a living in sports, than the many that are going to make a living in real jobs.
You should never have to pay the government for stuff you own.
School district spending is out of control. And Texas isn’t even ranked in the top half of schools in the country. We build massive football stadiums because that’s what parents are obsessed with, but they ignore real world educational programs that can offer certifications before they even graduate high school!
It's crazy how so much money can keep going to school, many of which are failing. Seems like we have lost sight of the priority which is providing each child with a great education.
Imagine not teaching your kids at home.
That's why the rest of Americans are being bottomed out by Asians
We had a MIDDLE school replace their football field twice in 3 years.
@@TStLou1 That RIDICULOUS!!! It's like parents have become addicted to football and are living vicariously through their children. Unfortunately, that means the tax payers are on the hook for it
@@motley06 yep! They also wayyyyy overpay school board administration, wayyyy underpay all their teachers, with one caveat, the High School football coaches… who are generally paid three to four times as much as advanced sciences and mathematics teachers, and who generally teach PE, Health, Drivers Ed. or History or any other useless Liberal Arts or elective class that’s easy as fuck and your average eighth grader could teach themselves through online self-study, in addition to coaching the Varsity Football teams… think about how fucked up our priorities are as a state when Physics and Mathematics/Calculus teachers make the same shitty $55-65k per year salary as your Art teacher helping Kindergarten students finger paint and color, while your Football head coaches are pulling down $165k on average!
This is a pretty simple problem to solve. Legislators need to stop thinking about how much they are losing and start thinking about cutting spend. Also, people who use Government Schools should be the only people paying for it, not people who will never use the schools. That would be a huge help and stop the extortion.
Yup
Property taxes should be illegal!!!
I hear ya
Well you can have income, sale or property tax. I prefer sales
@@news2383paying a healthy investment interest rate on consumption expenditures is ridiculous.
@@news2383we have all three lol
I am a landlord in Texas. From my 2 rentals I'm making $65,000.00 per year. The problem is they take 21,000 in taxes, over 5000 in insurance, and you can't really raise your tenants too much because of competitive rentals near by. That's just over 33% of the income. That does not include the federal taxes you have to pay which is 18-22%. All in all, you are paying around 50% of that income in taxes alone. To live off of rentals where I am you need to have at least 5 rentals or more to just get by. Especially with inflation and higher prices on food and fuel and monthly bills. If we had a state income tax itself, you would be looking at paying 60-65% of property income to taxes and insurance. Insurance in Texas has gone up over 30% the last 3 years alone. Those rental property taxes increased as well since 3 years ago. I try not to burden my tenants with increases, but I don't have a choice at one point. If someone has rentals with a mortgage, guess what, you will only make 20-30% if you are lucky which on 2 houses is very little left over.
Eliminate property taxes for those that have lived in the state for over ten years and are over 65 years old.
And push the costs to young families already struggling?
@@Gmandidl believe that those citizens older than 65 seldom have children in government schools!!! Shouldn’t be required to pay school taxes!!!
@kokonanana1 no this is dumb
@@kokonanana1dumb take
@@kokonanana1They don't, if they're Homesteaded. School Tax goes away after 65. I personally think it should be lower than 65, but you'd be surprised how many 50+ years old guys are knocking up younger females these days!🤣
Correction to your information. The $100,000 exemption in Texas is only against the school tax amount. You still must pay the full amount for county, local, and special assessments. Only saved $700 last year on 450k house in san antonio,tx last year, but of course it increased the property assessments this year and bam we only got a break for ONE year. These legislators are sneaky as sht.
That is correct I appreciate the feedback! What do you think they should do?
@@itmakessense2823 the budget is more important when determining your tax bill than the appraised value. The budget is set long before the appraised values so even if your home goes up or down the amount they collect in total is based on budget.
That is why the tax rate is set at the end of the process because they need to adjust it based on total home appraised values and budgeted amounts.
People focus so much on appraised that they don't realize the budget is what they should be focusing on.
In the private sector there is something known as economy of scale. There is no such thing in a collectivist system as everything becomes more expensive the larger the system gets. Corruption and inefficiency reign and accountability doesn't exist in any real way in these systems. I live 100 miles up the road from you and despite multiple international HQs relocating here, hundreds of thousands of new residents and home owners and new businesses, all of the taxing authorities are always short of money. Schools have 'shopping lists' of supplies they want kids to bring to their $25M elementary school. They are like drug addicts with a gambling addiction. You can give them a $1000 on Monday and by Friday they are $2000 in debt and can't tell you what happened. We don't need these people spending so much of our money on our behalf. They have no respect for it or worse, they steal it.
In the 1990's the lottery was introduced in texas. I remember when i was a kid the commercials stated that property taxes would fall because school districts would now be funded largely by the new state lottery. Texans already know what happened. Property taxes only went one direction and it wasn't lower.
I was scammed and voted for Politicians pushing these narratives🤬🤬🤬
Ann Richards didn't say that . . .
@@elizabethvail9046 Look up Article 7, section 1 and Article 8, section 1-e of the Texas Constitution. I never mentioned Gov. Richards. On paper the Texas lottery was a great idea but it has been turned into a scam because it generally affects those people in lower socio-economic backgrounds.
@@elizabethvail9046 she did on tv comercials while trying to get it passed
Allowing governments to tax property means you're not allowed to own property. The item in question becomes the taxing government's property and you're just renting it from them. Eliminate ALL property taxes.
It def feels like it
I fell like you still own it but more of a more civil shake down. Way back during the start of civilization you had the military go to you where you had to pay for protection. Either away it does feel gross.
@@blackrealestatedialogue- so allowing government to tax income means you're not allowed to have income? That is the irrationality here.
In the choice between racing income or property, tax property. Ohioo should eliminate the income tax before touching the property tax. Income taxes prevent people from accumulating wealth, while property tax is a tax on wealth.
It would be better if Texas had a higher income tax but no property tax. At least homesteaders who rely on themselves can live truly off grid.
@@Drew-gi5dwit’s a tax on unrealized gains basically. You don’t need to have property taxes or state tax use sales taxes it’s fair everyone pays the same percentage
What needs to happen is to eliminate the Central Appraisal Districts and lock the tax value of a home at the purchase price of the home. If governments need smore money, they can put it to the voters to increase the rate.
I agree the appraisal district is crooked! I like the ideas of locking in the tax value at the purchase price.
I got my home from my grandma 4 years ago.
Year 1 I payed 1587 in taxes,
Year 2 I payed just over 5k,
Last years I payed jus lt over 10k,
This year they are saying 8.9k and its not even December.
Tax IS theft!
Property tax needs to go or cap at 1k. If this doesn't happen everyone will at one point loose their living situation.
Sheesh!
That's the point. And they will give it to illegal immigrants!
@@coreenaburke5378 No they will not. Please stop with the stupidity.
@firstname7470 this is proven fact. They are giving illegals tax payers money unfree health care and other amenities.
@@firstname7470actually a lot of school property taxes do go to illegals. It does here in Texas. Legally we can’t deny their kids access to public schools (SC decision I believe). And there are lots of them in TX schools. We have friends who are in our same school district but a different part of it. 10 years ago they ended up having to transfer their son to a different elementary school because he was failing classes. His classes were about 80-90% non English speakers so the teacher was spending the majority of class time teaching in Spanish. After he got transferred his grades went from Ds and Fs to Bs.
Senior citizens in Texas ought to be absolved from ALL school taxing.
Property taxes are way too high here in Texas. We pay so much but have nothing to show for it, and it continues to climb.
We get bad schools and bad roads with potholes.
An older man years ago said you young people that vote for school bonds haven't lived through a depression... yet! Many people lost everything to property tax!
@@jellyfishpeach769 Don't forget the $50M high school football stadiums.
I got the $100k reduction last year, what is new about this?
Now you guys learning tax inefficiency and fraud has nothing to do with party lines and more to do with human greed and lack of integrity.
You should pay the tax once you buy it an that's it ... the taxes in texas is taxing folks out of there homes end this shit asap
If Texas does cut the taxes by a given amount such as the $100,000.00 then the county Appraisal District they will simply raise the Property Value enough to more than make up for the cut.
I hear you
They are already raising them for no good reason other than to get more tax money.
They are already doing this. Harris county just increased taxes nearly 10%.
They can only raise the valuation by 20% per year. That ceiling expires in two more years.
@@dwdwone No, it's capped at 3% but democrats used the recent storms as an excuse to raise it around 9% because of a storm clause. Of course they didn't defund any government programs or lay any government workers off they just took more money from its citizens and gave themselves a raise as well.
State governments like federal government needs to cut spending. Stop increasing school budgets every year. Stop building school swimming pools, football stadiums, stop paying for local sports teams stadiums. We need to cut spending dramatically.
I have lived in the same Texas home for 25 years. Yes the 100k exemption helped. I also understand the senate saying it will be tough to come up with 80 billion to replace property tax. But, my property value has tripled in 20 years. That means my taxes have more than tripled because tax rates have gone up along with value. So even with the 100k exemption the taxes have outpaced income growth. Basically the state, county and school districts are getting 3 X tax revenue. I personally don’t know anyone making 3 times more than they did 20 years ago.
Hopefully they’ll keep buying it down each session if we have surpluses. Though I wish they’d invest it long term so the investment income could replace school property taxes.
I'm not understanding why I don't see a $100,000 exemption for my property in Texas.
@@Highvibes777 me too, I have no idea where to find this information.
We need a constitutional amendment to limit tax to wages and never more total taxation than 25% (federal, state, etc.) All together. Cut gov by 50%. Stop the stealing of our money! It is corruption.
I was forced to sell my home in Houston because the taxes kept jumping up year after year, it got to the point where they almost tripled from when I first bought the house. I sold when I was paying $6000 a year on a house I bought for $174,000, the monthly escrow was killing us. I had a second job to help keep our heads above water.
How about the government stop overspending? There's got to be a way to cut programs that are not really all that important.
I’m so sorry you had to experience this
This is why they will never get rid of property tax. When the land value goes up, they want it back. What a scam! They want the ability to price you out of your home.
Building overpriced schools and fancy football stadiums are the problem. Defund public schools. Abolish property tax.
Those football stadiums are massive lol
Absolutely! Taxes are being spent to benefit certain communities while forcing others to foot the bill! We need to get back to fundraisers and private grants used to create these projects.
The gaint ugly white bridge they built in Dallas also was a major waste of tax money. They built bike bridges too near north haven in Dallas - 1+ million area - again waste of tax money when it has homeless people all around the area trashing it up but they don’t do anything to help. they should spend taxes on the homeless problem.
Don't forget all the billions that went to Israel
I’d rather pay increased sales tax than have some scamming school district trying to steal my home over $2500 in property taxes. A home I paid 700k over 30 years to buy.
Delete property tax!
agree-delete property taxes and do a 1% flat income tax that cannot be waived-to fund schools-if schools do not produce educated students, no more football
Property Taxes here in Texas can be fucking ridiculous. I live in a small town of a little over 3000 people, there is nothing here, the nearest walmarts are 30minutes up the highway either way, we have a Dollar General that is poorly managed and barely open, we have a Valero Gas Station, and 3 small family owned restaurants. Our property taxes on our $213k home were fucking $6000 last year! That's $500/month on top of the mortgage. In a town that has fucking nothing in it! And this was AFTER the homestead exemption
The choice isnt 6 or 22 sales tax. Lets look at the real issue, reducing government spending
I like that your taking this issue up. My wife and I have gotten very involved with our local property tax issues with TAD (Tarrant Apprasial District). North Richland Hills is next door to us and under TAD.
Problem is the politicians are just playing games. Abbott speaks well but then crushes things when the cameras are gone. On the local side political leadership as well as TAD members both the ones appointed by local taxing entities and the new elected at large members, keep playing games. We have had to marshal a lot of local tax payers to attend meeting and to push them to keep their election promises.
Off the top of my head I would have told the woman from the video to see if her homestead exemption ACCIDENTAL fell off her account. That happens a lot with TAD. They also reappraise every year and raise EVERYONES taxes and then see who comes to protest. They play games with protesting of taxes. If you Don't understand what they are doing you get screwed, but if you understand their game it's easy to protest. It's unfair to busy people just trying to survive.
There are also games with conflating terms to make it seems like they are taking action to help when they are doing the oppusite.
We do have a rapidly growing group of people in the community who are educating themselves and others and getting active on this issue.
One last personal thing to add. I know Texas needs funding mechanisms and I don't think property taxes need to be completly removed if a better system can be adopted.
Property taxes are a tax on unrealized gains. It’s breaking Texans
Def hurting many people, it’s sad to see
Def hurting many people, it’s sad to see
I live in Texas and the property taxes are outrageously ridiculous. I would be all for $.22 tax on goods or whatever.
I totally agree with the elimination Property Taxes
It's crazy. I live in Texas and most natives have been taxed out of their homes. To change it now kinda just locks in people not even from here. I support the move to end it just sad for so many that already lost their home because wealthier people moved in to our state.
People also voted for dumb things that increased Taxes. And yes it’s sad these people were kicked out of their homes. 😔
Same. I’m in Texas in Bexar County. I feel like our Tax Assessor, Albert Uresti, might as well be a mafia boss. He and his two brothers, also in Tx government, have faced convictions, prison sentences and accusations of financial corruption. And, he parades around the city of San Antonio like he owns it. He was heavily and gaudily awarded medals, sashes and awards for his role as Assessor during this years Fiesta celebration. I can’t help to believe that he orchestrated the whole narcissistic event.
Meanwhile, I wholly own my home and pay $1k/mo in taxes. I homeschooled my boys and never made use of the school district for which most of my tax dollars support. It’s very frustrating.
Texas does not have State Income Tax. It feels like property owners are burdened with making up that deficit in the State’s funding.
Citizens used to keep 100% of their earnings prior to the inception of the Federal Reserve and the IRS in 1913. Both are private entities and not federal at all. The IRS was voted into authority in one of those famous Friday midnight sessions that no one knows anything about until after it’s done.
Read ‘The Creature from Jekyll Island’ by G. Edward Griffin for that story and more.
Texas is running a shell game on taxpayers. They made such a big deal about increasing the homestead deduction, but there was a long lead time, so the appraisal districts had time to magically jack everyone's values beforehand. I built a home that was completed in May 2022. My valuation the following year was $180K above what I paid for it! When I protested and provided documentation of exactly what I paid and the final appraisal, they knocked off $100K and acted like I should be thanking them. How can we protest when their secretive, magical valuation algorithm overrides an actual on-site appraisal? And normally, with homestead exemption, they cannot increase the value beyond 10%, but it doesn't seem to apply in the first year. I am now paying far above what I budgeted for property taxes and will eventually need to sell the house I worked decades to purchase because I can't afford $1000 in property taxes every month. For most Americans, their home is the #1 asset for building wealth and stability. Texas undermines this with it's high property taxes in lieu of income tax. They pretend like that is a better deal, but it's only better for those with a very high income, i.e. their crony donor class.
Democrats like to tax and Republicans generally don't. If democrats had their way they would take everything and make you work for nothing. They like cheap labor and big government. It benefits them and their position of power.
If you built the house in May 2022 that counts as a property improvement for the Jan 1 2023 valuation. So yes you do get a big increase in the assessed value because it went from raw land to land + structure. And they appraise it at market value at that point.
What was your 2024 valuation? A 10% increase?
The counties compensate for the $100,000 reduction merely by jacking up appraisals. I have not seen an effective drop in property taxes for my home year-over-year. Eliminating property taxes will require state legislators to shift pension funding to sales taxes, and that rate will need to be increased massively. We would need to centralize education and eliminate ISD's and consolidate the hundreds of bonds into a state managed system. I don't think there is a political will to accomplish this. In addition, whichever the minority political party, it will throw a wrench in any plan just to score points and garner power. Too many variables. Too much judicial interference potential.
The elephant in the room is that our school districts are way too pricy for what they do. Why dont school districts share facilities like performing arts, some athletic facilities, etc? Why are new school buildings built like the Taj Mahal? Need to get rid of federal mandates and teacher union demands to return to true local control.
Y’all schools be looking like colleges 😂
@@blackrealestatedialogue be sure to check out Eagle Mountain HS north of Ft Worth. In their defense, its a hot RE area and the school should fill fast. But for $270 million? Cant imagine what their taxes will be like
Schools within a district do share facilities in more populous areas. Don't forget every school had to be fortified like Fort Knox due to school shootings.
@@firstname7470 My late hubs was LE. It's so sad that the money hasn't made them safe.
The larger problem is home insurance. Property Taxes are somewhat steady. Insurance increases are ridiculously high.
You clearly don’t own a home in Texas haha. Property taxes are insane here.
@@sportsbettingeducation Texas and Oklahoma have the highest home insurance rates in the nation. You clearly haven’t received your latest policy renewal. When you do, you will receive a 40% increase, minimum. Property Taxes are high, but they do not increase at the same rate as property insurance.
@@sportsbettingeducation I own a home in Texas and my insurance is way more than my property tax. Just depends what your exemptions are on the property tax.
@@firstname7470 so you’re paying 10k + in home insurance like most of us new home owners!? Yikes 😳
Insurance is a scam. Pay over a lifetime and get denied when you need it most.
I live in Texas and it’s 8.25 current sales tax. I pay $13,456 a year in property taxes and MUD tax on a home the appraisal district says is worth $470k that I have on the market currently for $389k and I have 0 offers. House is built in 2015. You know what they say? Well builders are selling the comps for $500k come to find out that’s another scam
Builders lost a new home for $500k, buy down the rates and offer all kinds of discounts to sell the home and still report the house sold for $500k when it sold for $400k and the person buying won’t realize it till they get a bill 2 years later with the “ new value”. I’m speaking from experience bro and it’s so frustrating and I have no kids
I really appreciate you sharing your experience so openly. It helps put all of this information into context. Wishing you the best on your sale.
Appreciate it. Taxes were supposed to be temporary but after WW1 these politicians used it as a way of lining their pockets. Contrary to belief it's not what actually pays for the local services. They tell us it is though. If taxes were the solution why I'm are the richest cities so poor. Bad spending and Gov keeps printing money out of thin air and it's legal and we all pay the price if those actions
@@yolandasylla2465 You definitely have a fair suspicion
Forney?
That’s why I’m starting a church, applying property tax exemption and giving the house to my church.
The state keeps raising my property value every year when the housing market dictates an increase, but not once have they ever decreased my property value when the market dictates a decrease. The value of my home has increase by 2.5x since I bought it, according to the CAD. I’d be fully n favor of dropping the tax burden placed on homeowners, and move to a system that more equally taxes TX residents across the board.
Yes eliminate property tax because the CAD is not following the law when they are assessing them. They inflate the value of your homes to fit their budgets
😫
I believe I heard they don’t have an over seer. Meaning while everyone else is accountable to the state or someone higher up they have no accountability. 😠
I live in the house that my mom and dad built in the 60s. They borrowed $18,000.00 to build the 2450 square ft, 3 level house in ATX. I bought the house from my dad in 2016 for the money I had in my pocket. The house and land are now assessed at around $850,000.00 to $900,000.00. I'm assuming because of location. When the 3 acre lot across the street from me was developed and 32 houses were built, my taxes went from around $3,000.00 a year to $11,000.00 a year. I had to get a loan against the home that I owned with no debt, just to be able to pay the taxes until I retire. I don't want to lose this place, I was born and raised in Austin and have lived on this lot since I was 18 months old. 😥😥
There's a major lawsuit in Texas regarding the manipulation of property taxes by the central appraisal districts in order to meet county budgets.
That's been happening forever - I thought it must be legal
12 states just got caught including Missouri
For defrauding property owners by useing a Scam they came up with 🤔💡over 30 years ago to inflate 🎈property values using a computer model 👩💻with false manipulated data 🤥
The corruption trial went clear to the State Capital..🫣
Then the county's were ordered by the Missouri Supreme Court 🧑⚖️ to refund this year's overcharge tax payments ..💰💰💰💰💰💰💰
Johnson County
Told 6000 home owners that they couldn't refund this years over payment🤷♀️ because they had already spent the money 🤷♀️ the day they received it..😯
Let me own the property. Definition of own is it can not be taken from me by any means such as property taxes. Sales taxes put me in control. I can decide not to buy.
When it’s time to retire, I will probably selling my Texas homes because of taxes. On a nice home you taxes can exceed $1000 month
Do they have anything in place to prevent seniors from large tax increases?
@@blackrealestatedialogue ..they do at age 65. I think they cap increases but it’s not that much in savings.
not only homestead exemptions, but also exemptions for over 65, certain military exemptions, handicapped exemptions, and ag exemptions. Senior citizens can also defer their taxes.
$8300 property tax on a $345,000 house in Dallas, TX
@@MiroBG359 …it’s getting more ridiculous considering that people purchased the same house before COVID 150k cheaper
We have owned our home since 1977, and yet we’re still paying taxes… I’m fed up.! These high schools DO NOT need stadiums that compete with colleges. Not to mention I haven’t had any children in any school in over 20 yrs. I do live in Texas and haven’t seen any so called relief. Just flat fed up with all taxes, starting from my pay check all the way down to my purchases including paid off things.. it’s way out of control !
I love that my State studies the feasibility of eliminating property taxes. Though total elimination is unlikely, their fabian approach of increasing homestead exemptions and lowering rates is much appreciated. The way to completely eliminate school property taxes is to eliminate public schools. Not popular. Another solution would be ask parents to pay a portion of the bill. Also, not popular.
Totally get where you’re coming from and o agree it’s not popular
Im in texas and bought my house for 100k. The appraisal district says its worth 400k and charges me taxes on the imagined unrealized gains. They even have a label on my house that says year 2000 equivalent new or some such so they can tax it more. my taxes are more than my house payment. they say they have a cap on taxes, yet they can raise taxes over 20% in one year. I am for replacing at least some of the property tax with consumption tax. I also think the taxes should be based on how much the house was bought for; currently, when a house is sold, you can immediately get the taxed value set to the purchase price. Why not have that be the tax basis? Sure, government wont like it but they cant keep squeezing blood from stones - it's not right.
The fact some states charge property tax, sales tax, and income taxes is insane. Louisiana does all 3 and has a sales tax over 10%.
It’s crazy, makes you wonder where all the $ is going
Thank Goodness! We have homestead exemption or I wouldn’t be able to pay my property tax!
Major reform is necessary starting with property taxes and ending with school funding. I used to substitute a while back and i assure you these school are so out of hand with spending and level of education provided. I genuinely dont and couldnt understand why anybody would want to teach anymore.
They do over spend. They even sell their old electronic equipment for cheap to get new ones for their budget increase. It’s ridiculous over spending. They need to budget on a smaller scale. Decrease the administration’s pay, increase teachers pay, decrease coach’s pay, reuse all equipment until it doesn’t work, stop making new stadiums cut the funding for football. Increase in music electives ( this helps with brain development) decrease in musical theatre and theatre, increase in shop classes and college level electives. We need more in our studies and less on sports. We can have it just not at the level it is. It is too much. It’s crazy!
The homestead exemption is not enough. Property Taxes also affect rental rates. There needs to be a complete and comprehensive property tax overhaul.
This is a fair perspective
Yes, They gave a property tax cut at the state level, but then the local tax assessor appraised the properties 75% higher, which in turn caused morgage payments to increase. Mine increased by $129 a month.
That is so crooked of them smh
Taxes are a human violation period. Remove property taxes. Then make it sales tax. And give us Americans a receipt so where our taxes money is going!
I understand your frustration
I don’t mind paying taxes, but we only get like 1/2 the value of what we spend. Really like to see reports on how money spent but so much is just unaccounted for.
@@richardmenz3257 taxes never existed in America in America until a president signed a bill he never read!!! Bills should never be read and accepted because they all contain fingerprints of illegal laws from criminals that cause starvation, death, disease, and wars, and homelessness!!!
@@richardmenz3257 Half? You are being very kind lol
@@SLM-hf1cr It prob right sadly overhead is expensive so the more you give the less it cost per unit given. So maybe what would be more accurate is 1/2 of what is spent goes where they say while other 1/2 going to line pockets n what not.
My property taxes exceed my mortgage. $1200 per month for a house I bought for $250,000 10 yrs ago. They say my house is worth $680,000. Houses are selling $420,000 in my neighborhood. My mortgage is $1100.
You need to protest that valuation. Sounds like you have favorable comparable market values so that should be a slam dunk to get your valuation reduced.
@@SkunksterPlaysPoorly Unless that valuation is intentional to keep that budget. Then it doesn't matter, they're just going to hose you simply because they can.
Property taxes should be illegal. If you purchased a house or land you shouldn't ever have to pay anything else for it.
I understand. How do you suggest the state get those funds instead of property taxes?
@@blackrealestatedialogue Asking "what about the funding" is like asking "but how's all the cotton going to get picked". Dunno. Doesn't change the fact that if we're a society that values private ownership all taxes on privately owned assets are a problem because they effectively turn owners into renters with the state as the lessor.
I get where you’re coming from. Thanks for the comment.
I get you
The state should get funds from the tax that we pay to the federal government. That money should be for schools, roads and everything else.... instead of funding foreign wars...
Saved and built my own home without borrowing from banks.
Now as a senior citizen I struggle to pay property taxes and my county is low income!
Lower school taxes they spend millions on stadiums if you can spend millions on a football stadium you don't need that much.
I hear you
Man, the amount of neighbors that want bigger high school football stadiums but then cry when their property tax is due is ridiculous
@@motley06just to think, I was going to move to Texas, I did not factor in property taxes being so high. Glad I haven’t moved just yet.
@@Akutukananuyeah bro it’s not joke, my dad is 100% disabled military so he doesn’t pay property taxes, he just puts the money he would pay away, and has saved 130k in 11 years since being 100% disabled. i know a lot of texans could use that type of tax break.
@motley06 right!? They vote for it and then they complain. They don’t understand they will be paying for it. They think money comes from thin air until they are stuck with the bill. Or their kids are. 🤦♀️
From a Texas home owner who has battled the county Appraisal Review Board, Texas unconstitutionaly taxes property owners on unrealized gains in property value. That is what truly harms most property owners. Example: I built a home in 2018 for $280K , then a year later it was revalued by the county at $450K. Granted Texas has a 10% raise cap annually, but none the less you are guaranteed a 10% increase in property taxes every year; even when economic downturns lower values. That's because it never lowers more than it's going up. NEVER. So a $2K a month house note on a 30 year fixed one year will probably go up one or tho hundred a month the next year and again each year afterwards. Residential property taxes should be frozen until the value gain is realized.
The 22% sales tax could be considered a consumption tax. You don't pay it unless you buy something. Frugal people would pay hardly any sales taxes while people who can't control their spending would pay lots of taxes. It doesn't sound fair to people who LIKE to spend all their money but maybe they would slow their crazy spending.
Fair point, thanks for sharing!
Consumables are groceries, gas, etc. things that are bought and used up with no intrinsic value. 22% sales tax is a consumables tax that only serves to make poor people poorer (mostly seniors, disabled, low income wage earners such as those still only making less than $15-20 per hr in TX. The only people who can afford a consumables tax are those with wealth and high earners (over 100k).
@@FL-Mimo I would need to see the math to back your argument.
Does a 22% consumable tax rate equate to spending more even while saving $150-400+ a month not paying property tax?
@@gs-pd5ox I think you have forgotten to consider that most low income people do not own homes.
Property tax is not the same as sales tax, AKA consumables tax.
These are apples to automobiles comparisons, and so "doing the math" is irrelevant, especially considering that if landlords and apartments do pass along property taxes to tenants, they are not held accountable for that math and capable of charging whatever they choose (if private landlord) and some market rate that actually never shows property tax if an apt complex corporation (in other words, apts and landlords never show a breakdown of what is being charged for rent.)
@@FL-Mimo my point still stands. Renters are paying property tax rolled into the rate. I agree that there would have to be a breakdown and there is no guarantee that landlords wouldn't still charge what they could get, but that doesn't mean in a perfect world the math doesn't work. Just doing the math on my personal situation I would take that trade and probably save $1000+ a year. And that is with all things being equal. If I really stuck to a budget I would save even more. The less you buy the more you save. At the end of the day you would be responsible for how much money you spend in taxes instead of some agency and their arbitrary numbers.
There would obviously have to be language that makes it illegal to not deduct property tax savings from rental rates or there would be no point.
Texas home owner here, who owned homes in MO and AR. I’m on a fixed rate loan at 3.2% in TX. My property taxes are higher than my loan; insurance not helping either which is higher than I paid for MO and AR. The homestead exemption only reduced my mortgage by $130 a month. Every year I have to fight over my home assessment to keep my house worth low enough to not make my mortgage unaffordable. You know how many times my mortgage changed in Missouri and Arkansas? 0 times. My mortgage changes every year in TX due to outrageous taxes and insurance. Texas property taxes are out of control and it’s expensive to live here.
If a county or school district forecloses on a property taxes, they should be forced to pay the FMV of the property to the owners.
Any politician who fights any change including that tool that snapped his fingers is profiting off of foreclosed properties. Follow the money
No one should lose their home from property taxes. This situation is seriously demoralizing and worse than a home robbery. Property taxes make home ownership impossible because it completely voids a persons deed to the home. The entire premiss of home ownership is a lie. We're are the Texas rangers...was it not created to protect such investments.
Even if the state eliminate property taxes, there is still MUD, ISD and other taxes. Ultimately you will still pay anywhere from 1.5-2% without the state property tax.
1) Property taxes literally means you are renting your property from the government. It's unacceptable. If that means a 22% sales tax, lets do it.
2) The government regularly reevaluates how much your property is worth. That's like if Walmart comes and tells me that Beanie Baby I bought in 94 is now worth $300, so I need to pay them more. You wouldn't accept it from anyone but the government-because they can use force.
3) How much you pay in property tax should be completely UNRELATED to income. That would be income tax.
4) Everyone else has to live within their means. If it means you don't get new clothes this year, or you've never had Starbucks, or vacation is something other people do, oh well. But the government keeps on taking as though budgets don't have limits. It's absurd and we need to stop it.
They can raise the sales tax to 10% and those politicians can take a pay cut!
TX res. Escrow payment (prop tax and home insurance) is almost equal to 30yr mortgage payment. Insane.
You can never own your land in a property tax state. You are just leasing it from the state.
raise the sales tax, spread that burden around. Or charge sales tax on the sale of the home that way if you're not selling you're not paying. Also if you must tax property, do it on commercial property, single family homes, owned by families that are living in said homes, should not be taxed.
I'm concerned if this is being lobbied by the real estate investors who will buy even more home inventory and build even more overpriced apartments - not paying any tax, not spending in the state, raking in the profits from renters and not responsible for public utilities or services those renters use.
As a Texan with a homestead exemption and a disability exemption the taxes have gone down but the appraisal prices have gone way up so every year taxes are still going up , i personally haven’t seen any relief!
22% sales tax is going to cripple a lot of people here and likely immediately throw the state into a recession. There is no good replacement that we can do short of an income tax but that’s a non starter here because they are really unpopular. Maybe more corporate taxes? Since many corporations are moving here lately pushing up the prices of everything.
Very interesting points, thanks for sharing!
Yes because they aren't really giving employees raises anyway stop giving corps free money building cuts etc...
Yeah thats why I think they need to:
1) make this a gradual transition (and maybe they don’t make it to 100% phase out)
2) exclude key staples, like raw ingredients (so not processed junk food, fast food, but rice, beef, etc), school supplies, etc.
3) the issue with CADs needs to be addressed
I bought land for 60k about 7 yrs ago built a home and a shop with my own 2 hands and am now paying taxes on an over 400k tax valuation. Now basically renting shit I worked my ass off to build. I'd take the sales tax all fuckin day. Tough to say though, 22% could hurt sales of certain goods and thus the economy, so I understand the level of debate needed on the subject and am open to more information.
It honestly doesn’t make sense to pay taxes on property you own. Roads,schools and other local services should be done by either state or sales tax
What is really dumb is that when you don’t even fully own the full value of your home, you have to pay 100 percent property tax on UNREALIZED value. What the hell is that?
It should be taxed on the equity you have on the house first of all.
@@davidsun6617 Great point.
They already eliminated 33% of property taxes. Inmediately the County raised the value of the hoses so they collect the same amount of money.
The problem is they are operating of the assumption that they need every dollar they are bringing in and they dont there is so much waste in government its obscene
I agree with you there, gov wastes tons of money
Apparently they are not wasting it in Texas as they have a surplus which is why they reduced property taxes last year.
Sales tax being high is a pain, but it applies to everyone including the underground cash economy.
I’m all for the sales tax increase. You can make essentials like food, clothing, baby supplies, tax exempt to help out lower income earners.
People don’t realize that sales tax is also progressive. The wealthy spend more than lower income earners, so they naturally will pay more in taxes. But property tax applies to everyone, even renters. And it’s not right to tax the elderly on a home they bought and paid for 30 years ago just for simply existing.
This is a very interesting idea
I’m all for a balanced approach like this lowering property taxes/increase in sales tax, let’s be honest we can’t have our cake and eat it too (no taxes but competent schools, infrastructure work , etc).
Many can't retire due to property tax or have lost their home after decades of owning the property. It's sickening.
Yes eliminate property tax because the CAD is not following the law when they are assessing them
😫😫
Property tax and income tax while simultaneously having a sales tax and a yearly vehicle tax is insane. They just piss our money on other countries. Taxation is THEFT.
When we bought our house, as soon as we claimed the double homestead exemption, our property taxes almost halved, once we turn 65 property tax freezes if a single person earns 25k and less, couples 30k and less. 100% disabled vets ARE property tax exempt, Current Military ARE property tax exempt. Our area also appraises on BOUGHT price NOT appreciation, so my house could quadruple in value, it DOESNT affect our property taxes.
Thanks for sharing!
When I got my 100% rating, I walked into the county tax office like George Jefferson.
How do you apply for double homestead exemption? We’re new to Texas and yes our property taxes are way higher than our previous state.
@@mrsmdub75 I don't live in Texas and go to your county tax assessor's office or better yet go online, look up your county tax assessor's office, can even call them.
I don't live in Texas, contact your County tax assessor's office by going online, calling them or go to their office.
All they have to do is lower the appraised values of people's homes, stop appraising houses for more than the market can sustain
They will never get to no property taxes, what they need to do is stop appraising homes completely and only tax you on actual paid value. Also once you reach 65 years of age your property taxes should drop to 0.1% or $500 per year . I am debating if I need to sell my home as I’m getting priced out of my neighborhood. Currently living in Colin County Texas and paying a little over $12,000 per year. I moved here from California where I paid $5300 per year, I never thought I would be paying more than double what I paid in California. I’m actually finding out that it it more expensive to live in Texas then California , as home insurance, vehicle insurance, the water bill at $350 per month and only allowed to water twice a week. The city of Celina has to buy there water from Denton because we don’t have the infrastructure to provide our own water. Home insurance double of that in California, vehicle insurance double of that in California. Here I left California not just for political reasons but also taxes , fees, and general cost of living. Now at 66years of age it’s not as easy to restart again with the timeframe in which to do it in. Texas needs to correct the broke system of property taxes.
California does that, when you buy a homes you pay off the value you bought it from.
But the house prices in California are so inflated its almost impossible to buy now unless you have close to 1mil
@@faithfreedom4084 that’s a little dramatic. Lots of nice areas in Cali are still under 1.5m
@artm5583 well when we left we had a house worth 645 and that's high for us. So we def couldn't find that in oc if we wanted to
@@faithfreedom4084 I get ya, it not cheap anywhere nowadays😔. A big problem that folks From west coast don’t Understand. States like Texas for example. They buy a home cheaper because they can get a house for 650k but they don’t realize our property tax’s are 2x-3x what it is in Cali. That’s not including HOA. A friend of mine lives in a nice community, but his property tax per month is nearly identical as his mortgage payment. Imagine paying 2500 a month for your mortgage plus another 2500 for taxes lol. Also our house value keeps going up 10% each year which means our taxes do to 🥲🥲. I can’t wait to leave Texas unless something changes.
Property taxes here in Texas are ridiculous and all they do is waste it on BS.
150% increase appraisal, Bell county Texas, increased school tax by 1/3!!! Had to remove child from school and do online at home instead of online at school .
I’m very sorry to hear this
How did that help your school tax bill? Everyone pays the school tax. Even I do with no children.
@@firstname7470 It increased school taxes by increasing appraised value-they made the new law sound good until the increased appraisal by 150% Had to pull students out of the school as it was so bad. Now need to move -again out of Texas-
In Europe you do not pay school tax unless you have kids in school. My home in Germany is valued at $460,000. I pay $1001 in property tax. But you have value added tax on everything you buy except food. That tax rate is 18%
AGAIN AND AGAIN, I don't hear anything about RENTERS, rents are crazy high, what about help for us.
Not sure what state you’re in but Ohio is proposing some stuff for renters. The subject matter of this video is taxes though. Check out some of my other content I’m sure I’ve covered stuff about renters before
Not sure what state you’re in but Ohio is proposing some stuff for renters. The subject matter of this video is taxes though. Check out some of my other content I’m sure I’ve covered stuff about renters before
Renters pay property taxes, it’s built into the rent. Stop voting for school bonds. Districts are out of control with spending
Doubled since 05? Mine doubled since 2021. And the HS ex is a joke. I save a whopping 500 a year.....
That’s insane!
Property tax should be based solely on purchase price, and NOT increased/changed due to county appraisal opinions.
We need this in New Jersey! These taxes are ridiculous! I think everyone should pay for school not just home owners
I would greatly appreciate this...I don't have kids and see how much of my property taxes go to the schools!
I personally know people who have left New Jersey because of property taxes. I hope y’all get some reform.
That’s crazy
@@snow40741 right, me either! So tired of it. Was thinking if going to Florida but they have too many issues right now!
I live in East Texas. When the state reduces our taxes, our appraisal district increases our appraised value of our homes and property. My appraised value of my home has almost doubled and my house is only 8 years old.
Where is the money for the toll way going to. They said they will stop it after a certain amount of time.
Wow I didn’t know that
Usually it’s 20 years to pay for the project. Then the road isn’t a toll road anymore
Not going to happen - way to greedy
Look into former governor Rick Perry and companies out of Spain receiving Toll Way money
I think some Australian company owns it now. Never going to stop paying tolls 😡
Actually the property tax cuts in Texas did nothing for us. Our Property taxes go to 4 entities State, County, School District and City (if you live in a city limits). The County Assessor determines how much you owe. So what happened was the State went down but the Counties raised our Assessments for the other 3 entities keeping our taxes essentially the same.
Sounds like a huge SCAM!
Why would the government need $81 billion to begin with? Perhaps if we slash the government budget that’ll also help reduce the costs of things. School choice is the future of education and with reduced taxes parents could afford better schools for their children.
What about the parents with kids who do not own homes?
This is the point that needs to be shouted out the most. When I heard it would cost 81 billion I laughed. The only reason things cost that much is because of all the unnecessary bureaucracy involved in everything. We could cut so many useless government jobs and get these people back into the actual workforce stimulating the economy. These government jobs, which is the biggest employer, don't add anything to the economy whatsoever. That's a huge problem. That's alot of people who could be helping produce and create and makes Texas even greater and the country even greater. The government always overspends and they think they have to do the same here.
Before everyone jumps on the school choice bandwagon wagon, look around and ask does anyone else have it and how are they doing? Louisiana has school choice. Now ask if the status quo is better or worse than LA?
Look up how much money Texas tax payers are "FORCED" to pay for illegal immigrants to be in our state. Medical, Food, Clothing and housing. Cut that and all the other pork belly spending which is a large amount and they could definitely make it happen.
I'm in rural Texas. My property value has went up $200k in 4 yrs. It's way out of hand .
Sounds like Henderson County.
Jack up the sales tax and make everyone have some skin in the game and then maybe we will address spending
Looks like that’s a potential outcome
Sales tax is already high in Texas. 8.25%. The primary culprit is home prices going up 200-300% in the last 10 years. Primarily from Californians and New Yorkers fleeing to Texas.
It doesn’t cost ANYTHING to cut property taxes. You just do it. Government was never intended to be as large as it is now.
Wow! That would mean you TRULY OW.N YOUR HOME. I AM MOVING BACK HOME TO TEXAS❤❤❤❤
Not so fast, nothing is confirmed yet 😫
Even if TX did eliminate property taxes, they will make up for it by going up on another tax or creating another tax! They will always get their money!!
Good luck. You want an old, three bedroom 1200 square ft house for 300 thousand? That's what my old trashed by renters house just sold for!
sales tax instead of Property tax.... The only property that should be taxed should be commercial and non homestead!
Cant spell the word Texas without the letters "Taxes"
I live in north Fort Worth and my property taxes are nearly 9,000$. It's gone up over 3,000$ since we purchased our home in 2017. We purchased the home for 227,000$ and it's valued at nearly 400,000$ now and I can promise my wages have NOT gone up that much. My daughter will be the first graduating class at EMHS and that school is massive. Indoor full sized football practice facility, amphitheater seating in each class room. It's nicer than most colleges. Glad to know that I funded an over priced school and will continue to fund it as long as I live here....