Austin Homeowners Speak Out Against Unequal Property Tax Burden
On May 20th, approximately 300 homeowners and residents from Austin met at a community forum to discuss the increasing property tax burden on regular taxpayers.
The forum was hosted by Brigid Shea, Democratic Nominee for Travis County Commissioner of Precinct 2, the Brentwood Neighborhood Association, and the First Universalist Social Action Committee.
Mustafa Tameez from Real Values for Texas spoke at the forum to highlight the connection that when big commercial property owners manipulate the property tax system to pay less – homeowners and regular taxpayers are inevitably left to make up the difference.
According to the Austin Monitor,
“One homeowner said his land value has more than tripled since 2008. Another homeowner said he purchased his property in October, and the appraised value is now higher than the purchase price.”
Large commercial property owners in Texas knock an average of 40% off their tax bill and that bargain comes at the expense of homeowners. Property tax manipulation puts increased pressure on homeowners and regular taxpayers to make up the difference.
Below are two examples from the many large commercial properties in Austin that benefit at the expense of homeowners and local communities.
2013 Purchase Price: $61.5 million
2013 Appraisal: $33.3 million
Burleson Business Park
2012 Purchase Price: $26.1 million
2013 Appraisal: $12.7 million
It’s time for a fair property tax system where big commercial property owners pay property taxes on the real market values of their buildings.
It’s time for Real Values for Texas.
Want to show your support for a fair property tax system and real values? Sign the petition for property tax reform here: http://www.bit.ly/RVTpetition.