Lt. Gov. Dan Patrick and House Speaker Dade Phelan on Monday announced they reached a deal on a historic $18 billion tax-relief plan for Texas property owners. The deal ends a monthlong stalemate that turned into a public battle between the state’s top GOP leaders over property taxes. Mr. Patrick’s stance was focused on a…
Texas Lt. Gov. Dan Patrick, Speaker Dade Phelan Reach Historical $18 Billion Property Tax Cut Deal
July 11, 2023
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Why You Have Rising Property Taxes and What You Can Do About It
Homeowners have recently seen property taxes become higher than ever. The surge in the cost of owning property started with the arrival of COVID and continues to rise. Many people wonder why and want some tax relief. Some homes have had their property taxes increase more than 37 percent since 2020. CBSNews reports that the…
Governor Abbott Calls Second Special Session Over Property Tax Reductions
June 28, 2023
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Texas Gov. Greg Abbott ordered lawmakers back to work for a second special session after they failed to pass legislation to reduce property taxes. “I called another special session to deliver on our promise to provide the largest property tax cut in Texas history. Hardworking Texans deserve lasting property tax cuts. When the House [and]…
What Homeowners Need to Know About Property Taxes
April 18, 2022
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When you purchase your first home, you become aware that you are required to pay for the privilege of owning a home. That payment comes in the form of property taxes. Property taxes are a revenue source for most local governments. Whether you live in a city, a town, a village, or a parish, you…
Housing Beat: Mortgage Rates Hit 5 Percent Level While Property Taxes Inch Higher
The week in housing was one of great challenges, with mortgage rates cracking the 5 percent level while homeowners faced an uptick in property taxes and state attorneys general demanded that mortgage services drop their convenience fees charged to borrowers. High-Five Freddie Mac reported the 30-year fixed-rate mortgage averaged 5 percent on April 14, up…
BC City Council Will Partially Reimburse Homeowner for Tax Sale, Equity Loss
PENTICTON, B.C.—The mayor and council of Penticton, B.C., offered an official apology and voted to reimburse a woman almost $141,000 after the city sold her home well below assessed value in order to collect a $10,000 property tax bill. The city called a special council meeting Tuesday to discuss the recommendations that were made last…
It Costs a Lot to Own in These Places
Maybe think twice about moving to another state and buying a home. That’s because it could be one of the states in which property owners and renters pay a bundle. New Jersey, followed by Illinois, New Hampshire, Vermont and Connecticut, are the five states with the highest property taxes, according to Tax Foundation and WalletHub…
Property Tax Hike Hits Black and Latino Communities Hardest in Greater Chicago Area
CHICAGO—Cook County’s latest property tax hike disproportionately affected black and Latino communities, according to the first-of-its-kind analysis under Cook County Treasurer Maria Pappas published Aug. 17. “Our research shows that inequities in the property tax system persist, particularly for businesses and Black and Latino property owners, and especially in the south suburbs. The 2020 property tax…
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