As I mentioned in the North Dakota property tax thread, I had urged We Texans to post a FAQ addressing the common concerns and questions I was seeing in vairous corners when discussing the issue. They have now posted the FAQ along with a summary explanation of their property tax elimination plan and the history of it's evolution: http://wetexans.com/bold-plan-free-texas/
Very interesting, but who gets to decide how much is "necessary" to fund public schools? Our school cuts were pretty deep and we lost some good young teachers. Next year will be year number two with no salary/benefit increase for me. Obviously teachers don't "do it" for the money, but we do expect to be paid for our expertise and skill. I would love to lose the property taxes I have to pay. That would be a pay increase in itself. It would also make everyone that purchases goods or services in the state a contributor to the school system, legal resident or illegal resident. Everyone has skin in the game and I like that part of it.
The majority of texans I know seem to not have a huge problem with the amount of state taxes they pay. The Texas economy is doing better than most. Why change anything?
"everyone" already has skin in the game. you don't think renters pay property taxes? Don't you suppose that taxes are considered when rent rates are set?
I don't know it for a fact, but I don't think the majority of the rent payment goes toward the property taxes. I would say that most of the rent cost would go toward the principal owed by the owner. Then there is the insurance and property taxes owed by the owner. So no, I don't think they have much of any skin in the game. A sales tax captures everyone.
Big Will is right. I have rental property and I consider property taxes when I set rent. Anyone renting property profitably does....
Public schools are not cutting. They are adding administrative positions. See the other thread. I was told by the HR director that the IS position would be cut, but the Principal of the school told me they were adding the admin. position and keeping the IS position.
I think they will lose a whole bunch of people right here: Q. Isn’t it preferable to be able to deduct property taxes on one’s federal income tax return? People don't like filing out the 1040 and not getting what they're used to getting.
Everyone will pay in some form or fashion. Teens will pay when they purchase something. Seniors who have a cap on their property taxes will pay. Will we lose a deduction? Sure. Is it worth it? To me, yes. I would rather choose where and how I spend my money as opposed to handing it over in a lump sum to the local district to allow them to spend it in frivolous ways and means.
