The value can increase, but the taxing entity is limited to 3.5% increased revenue (maintenance and operations) without voter approval, 2.5% for school districts. There are SOME exceptions, but alot of the taxing entities are not happy about having to ask voter permission to increase their revenue more than 3.5% in a year.jason812 wrote: ↑Thu Jul 30, 2020 8:46 amThey'll just increase the appraised value of all properties to raise the money the government thinks it deserves.Flightmare wrote: ↑Thu Jul 30, 2020 12:11 amAfter HB2 last session, they will have to have voter approval for any increase over 3.5%philip964 wrote: ↑Wed Jul 29, 2020 5:40 pm https://thetexan.news/austin-proposes-2 ... nsit-plan/
Austin proposes 25% property tax hike to fund 10 billion dollar mass transit program.
After the Covid dies down if it ever does, I expect a massive round of tax increases to make up for lost revenue and increased expenses due to Covid, let alone new ideas on the ways for govt to spend more money.
Edit: It is Senate Bill 2, not House Bill 2 as I originally posted. My apologies.