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Started By
Message
re: After historic tax cuts, Texas lawmakers evaluate eliminating property taxes entirely
Posted on 9/5/24 at 5:43 pm to FLObserver
Posted on 9/5/24 at 5:43 pm to FLObserver
quote:
my house is worth more every year since ive been in about 12 years
I mean, your house probably has been worth more each successive year since you bought.
0
Posted on 9/5/24 at 5:46 pm to GeauxTigers123
There are no decent sized cities that completely ban multi-family housing. Some may make it really, really hard to build new multi-family housing units, but if a place tries to ban them they are inviting the Department of Justice to get all up in their business. That said, there are other ways to allow more affordable housing such as allowing townhouses and garden homes, and other types of housing on smaller lots.
Last, there are rentals units in every community, in the suburbs and rural areas most rentals are single-family homes.
Last, there are rentals units in every community, in the suburbs and rural areas most rentals are single-family homes.
Posted on 9/5/24 at 6:08 pm to NOLALGD
quote:
That said, there are other ways to allow more affordable housing such as allowing townhouses and garden homes, and other types of housing on smaller lots.
NIMBYs end up bitching about those too.
Posted on 9/5/24 at 6:11 pm to GeauxTigers123
quote:
doubt it happens. I can’t imagine businesses would like a 22% sales tax.
Maybe not, but TX businesses will like have 70M people in the state (which could happen by 2045).
Posted on 9/5/24 at 6:14 pm to ragincajun03
I’d much rather pay sales taxes than property taxes. Nobody can get out of sales taxes while lots pay nothing in property taxes.
Posted on 9/5/24 at 6:24 pm to DarthRebel
(no message)
This post was edited on 5/4/25 at 5:30 pm
Posted on 9/5/24 at 6:25 pm to LSUwag
That 22% is BS, if every purchase in the state was taxed to replace the revenue from property taxes then I bet that 22 could he cut in half. Who ever came up with that number likes things the way they are.
Edit: Texas collected 188 billion in taxes state wide in 2023, that is sale tax, gas tax, license fees, etc. They say they need to basically triple that to 564 billion. The state budget is 144 billion, they collect 81 billion in property taxes. 144 + 81= 225 billion, which is about half of 564 a 22% sales would bring in. Here's an idea, cut the waste out of that 144 billion being spent annually. A little of that and a 10% sales tax could get you to number where property taxes could be eliminated. It will never happened due to the number of bureaucrats that would lose their spot at the publicly funded feed trough.
Edit: Texas collected 188 billion in taxes state wide in 2023, that is sale tax, gas tax, license fees, etc. They say they need to basically triple that to 564 billion. The state budget is 144 billion, they collect 81 billion in property taxes. 144 + 81= 225 billion, which is about half of 564 a 22% sales would bring in. Here's an idea, cut the waste out of that 144 billion being spent annually. A little of that and a 10% sales tax could get you to number where property taxes could be eliminated. It will never happened due to the number of bureaucrats that would lose their spot at the publicly funded feed trough.
This post was edited on 9/5/24 at 6:51 pm
Posted on 9/5/24 at 6:36 pm to GeauxTigers123
quote:
I’d be driving to Oklahoma for shopping.
We don't want you here.
You have to go back.
Posted on 9/23/24 at 1:16 pm to LSUwag
quote:
while lots pay nothing in property taxes.
very hard pressed to think of anyone who doesn't pay property tax. All property owners and property renters pay. I guess the homeless don't pay - that's it.
I would actually rather have an flat income tax and eliminate property tax. I can control my income- I can't control the value of my property. Plus, if you lose your job or take a pay cut, your income tax goes down. Your property tax goes up no matter what your economic inflows might be.
Posted on 9/23/24 at 1:20 pm to MAROON
quote:
I can control my income- I can't control the value of my property.
No.
I don’t want to live in a society that makes it more tax efficient to produce less.
Posted on 9/23/24 at 2:03 pm to ragincajun03
Taxes are the price we pay for living in a civilized society.
Honestly, I don’t believe anyone “likes” the “government” coming in and saying that you have to give them money. Everyone also wants to believe that governments are wasteful and incompetent - which, they’re made up of PEOPLE, so of course they are.
Politicians like to tell middle and working class folks that there’s a boogeyman getting a free ride - be it the poor woman on food stamps or the rich fat cat who “pays less in taxes than his secretary”.
FWIW, I live in a state that has a personal income tax which starts at a low income level, high sales tax, full tax on groceries and relatively low property taxes with generous exceptions.
I have a nice but modest home for which my annual tax bill isn’t over burdensome. But I also realize I pay 5% of my income in tax, and ten percent in sales tax over the course of the year on everything I buy. If my or all of that was cooked into a one time payment it probably would seem outrageous.
Honestly, I don’t believe anyone “likes” the “government” coming in and saying that you have to give them money. Everyone also wants to believe that governments are wasteful and incompetent - which, they’re made up of PEOPLE, so of course they are.
Politicians like to tell middle and working class folks that there’s a boogeyman getting a free ride - be it the poor woman on food stamps or the rich fat cat who “pays less in taxes than his secretary”.
FWIW, I live in a state that has a personal income tax which starts at a low income level, high sales tax, full tax on groceries and relatively low property taxes with generous exceptions.
I have a nice but modest home for which my annual tax bill isn’t over burdensome. But I also realize I pay 5% of my income in tax, and ten percent in sales tax over the course of the year on everything I buy. If my or all of that was cooked into a one time payment it probably would seem outrageous.
Posted on 9/23/24 at 2:08 pm to JohnnyKilroy
quote:
No.
I don’t want to live in a society that makes it more tax efficient to produce less.
a flat tax doesn't
Posted on 9/23/24 at 2:22 pm to ragincajun03
In my opinion, Texas has the best tax system in the US and it is one of the reasons for its success.
I think the two best advocacies would be:
1) Cap of 2%/yr assessed value increase for Homestead Properties (similar to Prop 13 in CA but only applied to Homestead Properties)
2) Feds to at least double the SALT deduction from $10k to $20k for married couples.
I own a home in Texas in Texas Hill Country in a great school district with a Total Tax Rate: 1.378600. If you control spending, you can control tax rates.
I think the two best advocacies would be:
1) Cap of 2%/yr assessed value increase for Homestead Properties (similar to Prop 13 in CA but only applied to Homestead Properties)
2) Feds to at least double the SALT deduction from $10k to $20k for married couples.
I own a home in Texas in Texas Hill Country in a great school district with a Total Tax Rate: 1.378600. If you control spending, you can control tax rates.
Posted on 9/23/24 at 2:28 pm to LStU
Also property tax rates greatly influence property values. If the rates go down, the values tend to go up.
Hawaii has very low property tax rates and its a notable reason for their high property values.
California's Prop 13 greatly influences their property taxes and property values.
Transfer taxes, property tax rates, etc. notably keep prices lower in New Jersey. An example is Montclair where Aaron Rodgers now lives. They have a surcharge on the transfer taxes for purchases over $1M and then their City tax rate is 3.380. Their property values would easily 3x or 4x if the property tax rates of HI or California's Prop 13 was in place.
All of these property tax rates influence property values. The market eventually finds some equilibrium on total cost of ownership. We're also seeing that now in Louisiana with low property tax rates but high insurance limiting property values.
Hawaii has very low property tax rates and its a notable reason for their high property values.
California's Prop 13 greatly influences their property taxes and property values.
Transfer taxes, property tax rates, etc. notably keep prices lower in New Jersey. An example is Montclair where Aaron Rodgers now lives. They have a surcharge on the transfer taxes for purchases over $1M and then their City tax rate is 3.380. Their property values would easily 3x or 4x if the property tax rates of HI or California's Prop 13 was in place.
All of these property tax rates influence property values. The market eventually finds some equilibrium on total cost of ownership. We're also seeing that now in Louisiana with low property tax rates but high insurance limiting property values.
This post was edited on 9/23/24 at 2:29 pm
Posted on 9/23/24 at 6:51 pm to 9Fiddy
Texas gonna FAFO you don't get nothin for free.
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