Impressed with County Judge Mark Keough and Montgomery County commissioners’ court taking action to lower the property tax rate. Last session at the Texas Capitol, we passed historic property tax reform requiring all counties to live within their means at 3 1/2% new revenue annually instead of the past where counties were collecting 10 -12% in new tax collections compounding each year and being completely spent (SB 2).
As a result of bills passed in the Texas Capitol over the last four years, local governments are now restrained on the new money they can receive from rising appraisals and a super-majority 2/3rds vote requirement is now in place in order for them to increase any effective tax rates (SB 1760).
With local government limited on what they can receive in new money, the appraisal on your home will no longer be used as a weapon against you as it has in the past. Instead, THE TAX RATE ITSELF MUST BE RELIED UPON. Also, because of last session, your local school district taxes went down an average of .04 cents /$100 valuation on your home and most were reduced again this year for 2020 (HB 3).
Thanks to these historic reforms, we are seeing local governments working at or under inflation, for the first time in decades, within those new measures established at Capitol in Austin. More good news to coming soon for Texas taxpayers.