Our property tax increase this year is going to add roughly $600/month to the mortgage payment. That is a SIGNIFICANT increase. I believe that a 1% increase in sales tax would be much easier to bear.....for me and mine, since we don’t spend much on sales tax to begin with, due to our purchasing habits.jason812 wrote: ↑Wed Apr 10, 2019 10:29 pmI was way wrong. So Texas collects $112 BILLION in taxes. Roughly half comes from property taxes and half of that is school taxes. Some how I don't think we are getting our money's worth on any of it. I guess as long as the kids have nice football stadiums it's all ok.srothstein wrote: ↑Wed Apr 10, 2019 10:12 pmNot by a long shot. Property taxes amount to more than 50% of all taxes collected in Texas at all levels. Check the amount of taxes collected by source listed on page 1 of this report from the state Comptroller. You might find some other interesting facts about taxes in Texas in this report.
If my math is correct, a 1% state sales tax increase would raise $8 billion. If you want a net zero with a reduction in property taxes, your tax bill will go down approximately $500 for a $3300 tax bill. Not very much.
The whole thing just flat out stinks.
Better yet, how about we stop robbing Peter to pay Paul.