5 ms·

Wouldn't a better solution be to exempt a person's current residence up to X value?

• jogjayr 7y ago
  The challenge is in the details. Who determines X, and how? Is X fixed or does it increase over time? If yes, is it indexed to inflation? In what way? CPI, local housing market, something else? Capping property taxes is the same as rent control. It has the same challenges in its implementation, and the same downsides and costs.
  • achenatx 7y ago
    In austin, property taxes are "capped" but they keep accruing+ interest. They are taken out of the estate when the owner passes.
    • caseysoftware 7y ago
      Capped in what way? My escrow goes up every year as City Council consistently increases rates to the legal maximum.