Texas House Speaker Dade Phelan’s proposal reveals the different roads the Texas House and Senate want to take on property taxes — and the fight that might emerge between the two chambers this session.
. Tightening the appraisal cap would only exacerbate that disparity, critics say.
Lowering the appraisal cap would also lead to higher home prices as they have in California, critics warn. Homeowners who stay in their home for several years would become increasingly less likely to move into a new one in order to hold on to their tax benefit. That would lead to fewer homes on the market — and thus higher home prices resulting from a tighter supply of homes.
“You shift the burden from the long-term owner to the new owner,” he said. “And who are the new owners of real estate? They’re typically going to be your younger population.” “Appraisal caps are the cotton candy of tax policy,” said Dale Craymer, president of the business-backed Texas Taxpayers and Research Association. “They’re really sweet, but they have no nutritional value. They don’t cut taxes, they just shift them.”appeared to arrive at a consensus for a total dollar amount to spend on property taxes over the next two years: $15 billion. Under budget proposals in both chambers, $5.
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