That's the deal this year.
They don't raise the tax rates, they just raise the appraised values.
People are pissed all over the state!
Then it's time to do something about it Texas! We did so in 1978 with the Headlee Amendment and later Prop A in 1994 in Michigan. Together they cap annual tax increases despite what the assessed value is. So the state is free to assess whatever the hell they want, but annual property taxes increases are limited to lesser of inflation rate or 5%. The ACTUAL taxable value of the home is reset when the home sells and the sale price establishes the SEV (State Equalized Value) for tax purposes. Thereafter, lesser of inflation rate or 5% (until you sell your house, then it starts over). In Michigan, taxation is based on 50% of SEV for your primary residence (second homes get nailed at 100% SEV taxation).
If blue Michigan can do it, red Texas can!
