To soften the blow of higher appraisals and their inevitable tax increases, Republican leaders in the House are adamant that lowering the state’s appraisal cap from 10% to 5% is the right move.
. Sponsors of the bill on Thursday defended the controversial idea that has gotten pushback by their Senate counterparts, housing experts and business groups.
Combined with tightening up school district tax rates, Phelan’s office said the average savings on a $350,000 home would be about $2,800 over two years. While tamping down on the state’s property tax burden is a top priority for leadership, warring proposals have driven a wedge between the two chambers. The big question is, will the Senate accept a plan that combines all their ideas including the House’s appraisal caps?
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