04/04/07  Residential Property Taxes

In agreement with The Dallas Morning News' Full Disclosure (4/2/7), I do not trust the appraisal districts nor the Legislature!

Due to real estate speculators, my residential tax bill every year has exceeded the 10% cap mandated by law.  By the time I reach the 65-age exemption, my house will have increased around 285% (compounded annually), effectively taxing me out of my home!  I have only heard lip service on a meaningful cap on this to bring it down to a rate below inflation with cities and a school district that is punch drunk on uncontrollable wanton wasteful spending of my tax dollars.

So, when the Morning News comes out in favor of full disclosure of the sales price of real estate sales be it commercial or residential, I am skeptical. 

I have seen appraisal districts use residential sales of properties that have been purchased by speculators to hike the tax bill on people's homes.  Those same speculators by the way have fueled the sub prime meltdown and the glut of unsold homes and record foreclosure rates in North Texas.   Most homeowners like me are not speculators, but our elected government officials apparently think our tax bills should reflect this speculation.  I see the appraisal districts licking their chops at the prospect of yet another wave of higher assessments under the guise of ?fixing an appraisal problem?.

The appraisal system is weighted against the homeowner.

Many have suggested that if we have full disclosure, we should have a property tax cap of 1% per year.  Many local governments are spending tax dollars to lobby against any change in the cap.   This is despite last year?s Republican primary referendum on property tax caps that passed overwhelmingly but was hidden from the public.  I had to call my state representative to learn the results!.

I am in favor of tightening commercial appraisals but fear it will be used against the homeowner. 

We need a cap on the final tax bill growth from one year to the next to protect those of us, who are not speculating with the biggest investment of our lives, from being taxed out of our homes.  This was proposed as an appraisal cap of 5% but with ?full disclosure should be 1% like in California?.  

We will probably get full disclosure but without any cap letting the appraisal districts rape our pocket books again!

David W. Tuthill