No more property tax in TX?

[ILexpatriot]

After historic tax cuts, Texas lawmakers evaluate eliminating property taxes entirely

Last year, after months of negotiating, the Texas legislature approved an $18 billion package of property tax cuts. Now, the Texas Senate evaluated going even f

cbsaustin.com

AUSTIN, Texas Last year, after months of negotiating, the Texas legislature approved an $18 billion package of property tax cuts. Now, the Texas Senate evaluated going even further, potentially eliminating property taxes entirely.

On Wednesday, the Texas Senate Committee on Finance took testimony on what further property tax cuts would look like, particularly by cutting school district property taxes, or property taxes entirely. Some Senators on both sides of the aisle appeared skeptical of such holistic tax eliminations, but inclined to further cuts.

 

[no2gates]

After historic tax cuts, Texas lawmakers evaluate eliminating property taxes entirely

Last year, after months of negotiating, the Texas legislature approved an $18 billion package of property tax cuts. Now, the Texas Senate evaluated going even f

cbsaustin.com

AUSTIN, Texas Last year, after months of negotiating, the Texas legislature approved an $18 billion package of property tax cuts. Now, the Texas Senate evaluated going even further, potentially eliminating property taxes entirely.

On Wednesday, the Texas Senate Committee on Finance took testimony on what further property tax cuts would look like, particularly by cutting school district property taxes, or property taxes entirely. Some Senators on both sides of the aisle appeared skeptical of such holistic tax eliminations, but inclined to further cuts.

View attachment 472399

I'll believe that when I see it.

 

[Lonesome Dove]

$10 per gallon of gas $15 per gallon of diesel would soon follow.

 

[no2gates]

$10 per gallon of gas $15 per gallon of diesel would soon follow.

Yup, they gotta make up that huge difference in revenue somehow.

 

[deemus]

Pipe dream. It won't happen. We already have no state income tax for people. Its only for businesses, and you can make over $1million before the tax actually kicks in.

They have to pay for those road expansions due to all the Calli people moving here.

 

[ILexpatriot]

I'm not going to dismiss it out of hand. I'd love to see a breakdown of what the results would actually be. If nothing else, think of what this would do for retirees..

 

[Tnhawk]

$10 per gallon of gas $15 per gallon of diesel would soon follow.

Most of the EV owners would like it.

 

[Tnhawk]

Pipe dream. It won't happen. We already have no state income tax for people. Its only for businesses, and you can make over $1million before the tax actually kicks in.

They have to pay for those road expansions due to all the Calli people moving here.

Some fail to understand that whatever the source, it takes taxes to fund government expenses.

 

[ZX9RCAM]

Did I miss where the article stated no income tax?
All I saw was talking about property tax.

 

[RoadRunner]

Property tax is the most unfair tax that there is. Why should property owners foot the bill?

 

[baboon]

My father firmly believe that only property owners should vote.

 

[V-Tach]

If the Gov. can take it from you for not paying taxes on it..................

You do not really own your property.........you just rent it from the State....

 

[ILexpatriot]

Did I miss where the article stated no income tax?
All I saw was talking about property tax.

You caught me. I flubbed the title.
Edit. It let me fix it..

 

[roadkill]

I believe income tax is not possible due to a constitutional amendment. They’d have to get that changed to implement it.

What they need to do is eliminate or drastically reduce the property tax and replace it with a sales tax.

 

[V-Tach]

No retiree after working their whole life and paying taxes should be taxed out of their home....

That is total BS..........

 

[ILexpatriot]

No retiree after working their whole life and paying taxes should be taxed out of their home....

That is total BS..........

Absolutely.

 

[ILexpatriot]

I believe income tax is not possible due to a constitutional amendment. They’d have to get that changed to implement it.

What they need to do is eliminate or drastically reduce the property tax and replace it with a sales tax.

Yes. The article is about property tax. I was distracted when I posted it, and flubbed it for income tax. It's now fixed.

 

[TAZ]

Not feasible. It’s the same as the BS tuition loan repayment thing. They are merely pandering for votes in an election year.

Property taxes fund lots of things and would need to be replaced. Even with DRAMATIC spending cuts which no political creature ever does, you’re going to see a huge increase in sales tax or gas tax, electricity fees…. Or you’ll have income tax before you know it.

I’m not opposed to having it the way of the dodo bird and being replaced with increased sales tax, but there would need to be some thought put into how one implements an updated sales tax regime.

Renters would be hardest hit though. Apartments aren’t going to be refunding property tax portion of rents so a renters rent would stay the same while their cost of living via increased consumption taxes sky rocketed. I’ll wager we are pretty close to having far more renters than owners, so that wont fly. And before folks go on the just buy a home rant. Look at current property prices and interest rates and OD on reality polls. Cause that ain’t happening either.


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[Lead Belly]

It must be an election year...

 

[popper]

Real problem is Gov spending. That won't change.