04/14/2017 | Author: Editorial Staff
Sure, REALTORS® help you buy, sell, and lease property, but they also advocate for public policy that helps consumers.
For example, the Texas Association of REALTORS® recently announced its support for the property tax reforms provided in Senate Bill 2, now making its way through the Texas Legislature. The bill is a positive step forward in ending the common practice of local elected officials misleading taxpayers when budgets are adopted at the local level.
"When local elected officials hide behind increasing property values to justify larger budgets, taxpayers suffer. Senate Bill 2 goes a long way to fix this problem and provide more transparency and honesty in the local tax-rate setting process,” said TAR Chairman Vicki Fullerton.
The bill reduces the rollback rate for local taxing entities and requires an automatic rollback election if the local taxing entity exceeds the rollback rate. Despite some comments to the contrary, the bill does not limit the amount of revenue a local taxing entity may generate.
The association believes the bill will help give property owners transparency during the tax-rate setting process and encourage voter participation. To better understand the property tax process, visit hiddenpropertytax.com.