Bob Campbell of the Midland Reporter-Telegram writes about his disappointment over the lack of legislative action to slow down property tax appraisal creep.
As appraisal values increase, taxpayers’ property taxes go up without local governments having to raise rates. It’s a silent tax increase. Campbell is right that almost all bills that tried to address the subject were never allowed out of the House Local Ways and Means committee.
However, as you read Campbell’s article, don’t forget Rep. Hochberg’s (D-Houston) HB 438 and HJR 40, which did pass the legislature. This legislation will allow voters to vote on a constitutional amendment to limit the maximum appraisal increase on residential property to 10% since the last appraisal. If the voters approve, appraisal increases cannot be anymore than 110% of the last appraisal, even if that last appraisal was several years back. So you have a chance to do something about appraisal creep on Nov. 6, 2007.