Lower Cap on Appraisal Growth Would Mainly Benefit Wealthy Homeowners, Create Dangerous Imbalances

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Dick Lavine /(512) 320-0222 x 101

February 2, 2005

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The Governor, in his State of the State Address, proposed lowering the current cap on the annual growth in the taxable value of a homestead from ten percent to three percent. Bills already filed would bring all real property under the proposed lower cap. These changes would shift the burden of property taxes onto lower-income families, tax similar properties differently, and discourage the sale of real estate.