A recent report found that some elements of rising property tax rates are controlled by homeowners. | Tierra Mallorca/Unsplash
A recent report found that some elements of rising property tax rates are controlled by homeowners. | Tierra Mallorca/Unsplash
A new report by the Texas Taxpayers and Research Association (TTARA) found that a key component of increasing property tax rates is a rise in the amount of spending desired by local jurisdictions, as home value appraisals continue to skyrocket.
The TTARA earlier this month published a report that detailed increasing property tax rates across the state of Texas. The report found that while many Texans can expect sticker shock when receiving their appraisals this year, some elements of rising tax rates are controlled by the homeowners themselves.
"The simple truth is, no matter what your appraisal, property tax bills would not be going up unless local jurisdictions wanted to spend more money," the TTARA said in its report. "Regardless of your 2022 appraisal, right now, your 2022 tax bill is zero. Your tax bill won’t be set until the jurisdictions in which you reside decide how much money they want to raise and set their tax rates."
A report published by the Texas Public Policy Foundation (TPPF) found that El Paso's property tax grew 51%, from $256.6 million to $387.4 million, between 2016 and 2020. The combined population and inflation for the city grew by 7.7% during that period, which resulted in a difference of 43.3%.
"Though few tax bills are actually shrinking, the spiraling growth of property taxes of the past few decades has been abated," TTARA said in its report. "As property values rise, jurisdictions are finding they must cut tax rates or face voters. As a result, property tax rates are dropping like never before."
Appraised property values are expected to continue increasing across the state of Texas by an estimated 20% to 50% this year, with property values serving as a key component in the determination of property taxes, according to The Texan.