Tuesday, December 27, 2016

ICYMI(In Case You Missed It), Property Taxes are Up!

The Texas Comptroller of Public Accounts published his Biennial report on property taxes. Property Taxes

Property tax is the largest tax imposed in Texas. In 2015, property tax generated more than $52 billion for all taxing units that can levy a property tax, and it represented al most 48 percent of all taxes imposed by state government and local taxing units.

Here are two of the relevant charts.




School districts are the major extractor of property taxes from the citizens of Texas at $28B. The cities extract "only" $8B.

The percentage change in estimated population for Texas from April 1, 2010 to July 1, 2016, is available from the United States Census Bureau. Texas population grew from 25,145,561 to 27,862,596 over this time period. That is a 1.72% annual growth rate. 

Recall that inflation has been less than 2% annually over the same period. Thus, while annual population growth plus inflation for the entire state has been less than 4%, property taxes grew 6.31% between 2014 and 2015.

One should be asking their elected repsentatives why the taxes collected are growing at a 50% higher rate than population plus inflation.

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