Raising the Homestead exemption from $100k to $140k?

Whoopty effing doo!

More nibbling around the edges from Patrick and Bettencort while at the same time declaring massive victory. They've only been talking about property taxes in the radio for 30 years. "Vote for us and we'll solve this".

The exemption should be $300k at a minimum for most folks and $500k for seniors.

Such an illogical BS tax.

There are a lot of counties in Texas without a single structure valued over $300,000.

Contrary... No freezes or exemptions for seniors. If they can vote for the bond or budget they can pay full freight.

If anyone wants to carve themselves out of the fees, then surrender your vote

Kenneth_2003 said:

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If anyone wants to carve themselves out of the fees, then surrender your vote

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

Sounds like a great deal! Id totally sigh up for that if I was a senior

Ghost of Andrew Eaton said:

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

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It is but the rate is extremely low. The alternatives will be more invasive to those already paying the majority of taxes. The average Texan pays less than $4k in property taxes. I mean how low does it need to be?

Grok makes the case the average residence in Texas as a value of $320K.

Voters could pass this measure in Nov 2025 - 2 years after last increase. So, call it a (being lazy here, so I could be off a bit not compounding) 20% increase per year. Not terrible, and probably in reasonable line with inflated property values; probably a bit higher than most values have increased.

Now, the folks that really get screwed are renters, as (it is my belief) that no homestead exemption for them. So, they are definitely paying an increasing share of revenue - compared to home owners.

Really bad time to be young and raising a family if you are not pretty high income.

I don't think you could find a house in the Austin metro with taxes as low as $4k.

Tom Fox said:

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Ghost of Andrew Eaton said:

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

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It is but the rate is extremely low. The alternatives will be more invasive to those already paying the majority of taxes. The average Texan pays less than $4k in property taxes. I mean how low does it need to be?

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Tax the value I bought my house and then tax the actual gains when I sell it.

Kenneth_2003 said:

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Contrary... No freezes or exemptions for seniors. If they can vote for the bond or budget they can pay full freight.

If anyone wants to carve themselves out of the fees, then surrender your vote

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I agree. My local school bonds pass due to the rounding up of retired teachers/ISD staff and administrators. I have no sympathy.

mazzag said:

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Kenneth_2003 said:

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Contrary... No freezes or exemptions for seniors. If they can vote for the bond or budget they can pay full freight.

If anyone wants to carve themselves out of the fees, then surrender your vote

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I agree. My local school bonds pass due to the rounding up of retired teachers/ISD staff and administrators. I have no sympathy.

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They pass because voters are too lazy to get out and vote. Simple as that but you've found your scapegoat. Those people you blame are taxpayers in your district, just as much as you are.

I'm cool with that. That is almost 30% less for me than it is valued now and I am in my last home. So giddy up.

Tom Fox said:

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I'm cool with that. That is almost 30% less for me than it is valued now and I am in my last home. So giddy up.

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My "value" has more than doubled since we've lived in this house for 20 years. It's my plan for it to be my forever home.

Mine would have went from $190k to $470k in 9 years using their initial assessed values.

I appealed every year, brought it down (with current estimates for repairs and different comps). The last year before being frozen, the assessor dude literally asked me what I wanted to use as the value and went with it; they were just tired of seeing my sorry butt.

All taxes are theft but property taxes are the least worst of the available options because it promotes productive use of the land.

I sometimes think that the people complaining the loudest are the same people who celebrate tax returns.

lb3 said:

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All taxes are theft but property taxes are the least worst of the available options because it promotes productive use of the land.

I sometimes think that the people complaining the loudest are the same people who celebrate tax returns.

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Taxes are the cost of living in a civilized society. They suck but are a necessary evil. I only ask that Republicans and Democrats be consistent.

Only real solution....... Homestead exemption is an actual exemption.... ZERO tax paid on your homestead except when purchased. Residential rental properties, commercial properties, etc..... still taxed. If the county needs to make up funds either stop giving huge corporations tax breaks or slightly raise sales tax.

Let me guess, you want a progressive income tax on property?

GTFOH

Every State taxes you somehow. I live in a state with moderate income taxes and low property taxes. Texans are always so proud they live in a state with no income tax, then complain about property tax.

They are going to get you one way or another.

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Taxes are the cost of living in a civilized society.

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Govern me harder, daddy.

Grok says

Gambling Revenue Estimates:

• Casinos: A 2021 study by the Texas House Research Organization estimated that legalizing casinos could generate $1.4 billion to $2.6 billion annually in tax revenue, depending on tax rates (e.g., 15-25%) and the number of licenses. Las Vegas Sands has projected up to $4 billion annually with destination resort casinos.
• Sports Betting: The American Gaming Association estimated in 2023 that legal sports betting could yield $500 million to $1 billion annually in Texas, based on a 10-20% tax rate and market size (Texas' population and sports culture suggest high demand).
• Expanded Lottery: Adding more games or online lottery options could boost revenue. The Texas Lottery generated $2.4 billion in 2024 for public education and veterans' programs, but expansion could add $200-500 million annually, per legislative estimates.

These funds could be earmarked for property tax relief, such as funding school tax rate compression or increasing homestead exemptions, reducing homeowner bills without an income tax.

Over_ed said:

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Grok makes the case the average residence in Texas as a value of $320K.

Voters could pass this measure in Nov 2025 - 2 years after last increase. So, call it a (being lazy here, so I could be off a bit not compounding) 20% increase per year. Not terrible, and probably in reasonable line with inflated property values; probably a bit higher than most values have increased.

Now, the folks that really get screwed are renters, as (it is my belief) that no homestead exemption for them. So, they are definitely paying an increasing share of revenue - compared to home owners.

Really bad time to be young and raising a family if you are not pretty high income.

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Yes, it could be harder on renters, but a substantial homestead exemption would also give more families a chance at home ownership (as opposed to investors).

Ghost of Andrew Eaton said:

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

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I tend to disagree, but I get the argument. Property taxes are essentially a mechanism to allocate costs across an area. Pick any method. At the end of the day, the problem is spending. I don't care if my house's imaginary value goes up by 500k... if everyone goes up by a similar # - theoretically, we shouldn't be seeing our taxes increase by 10%. Someone fix this **** - increase accountability to the entities driving up absolute taxes. It is way too passive of a process today.

Last time I helped my Aunt with her property Seniors in Harris county have values frozen at 65
Not sure they need a higher exemption if they already are getting that from
CAD yes that freeze applies to hisd only but the other taxes are less than a rounding error when compared to hisd

Of course if this has changed I apologize

slaughtr said:

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Every State taxes you somehow. I live in a state with moderate income taxes and low property taxes. Texans are always so proud they live in a state with no income tax, then complain about property tax.

They are going to get you one way or another.

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Since 2011, my property value, and therefore my property taxes have more than doubled. Many people do not have the ability to increase their income by double in a 14 year period. All of the sudden you find yourself in a position no longer being able to afford your home anymore. I would much rather have a flat state income tax and extremely low property taxes than our current system.
There is no exemption on my second home so I get to pay a full tax load and get none of the benefits in return. Our property tax system is completely effed up.

Maybe since the big priority of vouchers has passed, they can turn their attention to property taxes....

Ghost of Andrew Eaton said:

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

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No they are not
If they were a tax on unrealized gains you'd only have to pay it on the increase not the overall value
they are a tax on wealth if you are going to argue for a change than use the correct terminology

As a senior I agree with you 100%. You gotta have skin in the game.

This is the easy political solution for the Lege. Its sounds good and does absolutely nothing.

Its for ISDs only and does nothing to city or county (or any other taxing district) and all the appraisal groups will do is make it up in higher valuations. They already wiped out the jump from $40k to $100k in exemptions.

Until they force real caps on property valuation increases of force tax entities into net 0% increases (valuations go up then tax rates down proportionally) making the elected officials responsible for actual tax increases, nothing will happen.

FIDO*98* said:

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slaughtr said:

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Every State taxes you somehow. I live in a state with moderate income taxes and low property taxes. Texans are always so proud they live in a state with no income tax, then complain about property tax.

They are going to get you one way or another.

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Since 2011, my property value, and therefore my property taxes have more than doubled. Many people do not have the ability to increase their income by double in a 14 year period. All of the sudden you find yourself in a position no longer being able to afford your home anymore. I would much rather have a flat state income tax and extremely low property taxes than our current system.
There is no exemption on my second home so I get to pay a full tax load and get none of the benefits in return. Our property tax system is completely effed up.

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Oh, I get it, but for 30 years I've heard from my family how stupid I was to move to a state with an income tax. I agree with you, I'm much happier with a flat income tax and low property tax. I doubt Texas is going to do that.

FIDO*98* said:

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slaughtr said:

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Every State taxes you somehow. I live in a state with moderate income taxes and low property taxes. Texans are always so proud they live in a state with no income tax, then complain about property tax.

They are going to get you one way or another.

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Since 2011, my property value, and therefore my property taxes have more than doubled. Many people do not have the ability to increase their income by double in a 14 year period. All of the sudden you find yourself in a position no longer being able to afford your home anymore. I would much rather have a flat state income tax and extremely low property taxes than our current system.
There is no exemption on my second home so I get to pay a full tax load and get none of the benefits in return. Our property tax system is completely effed up.

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That would double F the people already paying high fed income taxes. Depending on the tax rate, it could quadruple what I currently pay in property taxes.

Keep it where I can avoid taxes by cutting my spending like property or consumption taxes. Do not penalize me for making money.

Property taxes in Texas are already extremely low. If they are a high percentage of the taxes you pay, then you are essentially paying nothing in fed income taxes. My fed income take bill is 25 times my Texas property tax bill.

McNasty said:

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Over_ed said:

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Really bad time to be young and raising a family if you are not pretty high income.

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Yes, it could be harder on renters, but a substantial homestead exemption would also give more families a chance at home ownership (as opposed to investors).

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Assuming value of the average residence in Texas is in the range Grok suggests ($320K) and the new homestead exemption will go to $140k, I would consider that "substantial", wouldn't you?

Everyone's ox is going to be gored to some extent - and, imo, someone living in a low rent apartment is never going to be able to cover their proportionate share of say public education, roads, etc. So the question is how we apportion that cost to the more affluent.

I don't feel the current system is that bad. Some relief for when you get old but they still pay, more tax on those with more real property, some relief for you primary residence etc. Again, renters are paying more proportionally as you increase homestead exemption, but whether they are paying more than what is fair is not for me to judge.

One last thought - the real problem to me seems to be on the expenditure side and if we did better there everyone would not be so agitated by this topic.

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the real problem to me seems to be on the expenditure side and if we did better there everyone would not be so agitated by this topic.

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Sq 17 said:

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Ghost of Andrew Eaton said:

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Property taxes are a tax on unrealized gains, which I thought Republicans were against.

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No they are not
If they were a tax on unrealized gains you'd only have to pay it on the increase not the overall value
they are a tax on wealth if you are going to argue for a change than use the correct terminology

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If my property "value" more than doubled, a majority of my property taxes are based on that increased. I've not collected a single dollar on that increase in value and yet I'm taxed on it.

Why isn't that a tax on unrealized gains?