According to a recent article in the Galveston News, Texas City is considering LOWERING the city property rate. The decrease would lower the rate to 43.8 cents per $100 of taxable value, per Laura Boyd, the city’s finance director.
Also, KTRE 9 News reports that Lubbock County commissioners have also recently voted to lower their property tax rates, slightly. This is in lieu of the city potentially considering to raise their rate, but we applaud the county commissioners for lowering rates for the second year in a row.
So, why are some municipalities lowering rates? Our thought is, they “get it.” They get that the appraised property tax values are raising as the real estate industry recovers and rebounds. Smart elected officials recognize that the rate in addition to the increasing property values is a burden property owners shouldn’t have to bear.
We’d love to hear about more positive stories from across Texas. What is going on in your area with property tax rates? We want to hear your Voice for Texas!