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VOLUME 26, ISSUE 7 | NOVEMBER 2021
Texas’ Property Taxes: Legislative Changes, Important Dates
written by RIKI MARKOWITZ
Ask any homeowner — or REALTOR — in Texas and most will say that the state is known for having some of the highest property taxes in the country. That might be stretching the truth a bit, but taxes here are still extremely burdensome.
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Depending on the formula you use, Texas ranks 36th in highest property taxes in the country (Tax Foundation) and 30th for overall tax burden (Wallethub), which includes property, income and sales taxes. While the middle of the pack isn’t the worst place to be, it’s certainly not a great position either. And there’s evidence that the property tax burden for Texas homeowners is getting worse. Between 2018 and 2021, the state slid four spots on the Tax Foundation’s property tax structure rankings. Texas is a state that prides itself on its business-friendly policies. For example, there are no income taxes for workers or corpora-
tions. And while property taxes weigh heavily for most homeowners, there are actually no state property taxes. According to the Texas
Comptroller office, the state does not set tax rates or collect taxes. All property taxes and rates are set, collected, disputed and settled by local governments. So the friendliness extended to businesses seems to be working. Just look at some of the companies that recently moved or
announced a move to Texas, including Tesla and Apple. At the same time, does all this friendliness come with a price? Say, higher property taxes? That does seem to be the case. The thing is, despite homeowners’ protestations to reduce their skyrocketing tax bills, the money that counties need to operate on a day-to-day basis has to come from somewhere. Again, according to the state comptroller office, “The local property tax is the largest single funding source for community service. Your local property taxes help to pay for your public schools, city streets, county roads, police departments, fire protection and many other vital programs.” The good news is that money raised from these taxes stays local. State government [continues on page 16]
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Thursday, Dec. 16 Ugly Sweater Party
Tuesday, Dec. 14 FREE CLASS - Title 101
Wednesday, Dec. 1 Installation & President’s Reception
Austin Young Real Estate Professionals (AYREP) / Oskar Blues Brewery / 10420 Metric Blvd, #150
Stewart Title / 900 Quest Parkway, Suite B, Cedar Park, Tx 78613
Phillips Event Center / 8140 Exchange Blvd.
Join AYREP and our 2021 Sponsors for the final event of the year with your favorite local real estate professionals! Bring out your tackiest sweaters, our sponsors will be giving out prizes CLICK for best outfits. A drink ticket will be HERE provided for each guest.
RSVP
$10 PER PERSON
1 to 2:30 p.m.
NOW!
Come learn what the Stewart Title - Cedar Park Escrow Officers can do for you on your next closing. This intimate training will be held on Tuesday, November 9, beginning at 1:00 pm. We will cover what we do from contract to close, what’s title insurance, how to read a survey, CLICK HERE understanding a title commitment, and a review of the closing disclosure.
FRE
IN-PERSON
1 to 2:30 p.m.
CLASSE !
Join us for a social happy hour followed by the installation of the 2022 Board. The Installation and President’s Reception celebrates 2021’s accomplishments and ushers in the new Board of Directors and Board President Scott Turner for 2022. This event provides an opportunity to meet new business contacts, recognize members who CLICK HE have gone above and beyond with a REGISTRE President’s Award, and honor the 2021 ER Board of Directors.
NOW!
5:30 to 8:30 p.m.