Heard this from someone at lunch today, (its evidently common knowledge and not a secret) and he also said the district is going to ask for a three cent increase on taxes. I'm assuming that means three cents per some dollar amount in value? I'm not the best at understanding a great deal of this.
With the new property tax bill recently signed by Abbott, what are some of potential issues associated with that? If the first $100,000 of value on a property with a homestead exemption cannot be taxed by a school district, does this mean the CAD will more than likely increase values to the maximum percentage every year during this three year life of the bill to make up for some of the lost tax revenue? Also, does this make it more likely that properties without a homestead exemption will pay more?
With the new property tax bill recently signed by Abbott, what are some of potential issues associated with that? If the first $100,000 of value on a property with a homestead exemption cannot be taxed by a school district, does this mean the CAD will more than likely increase values to the maximum percentage every year during this three year life of the bill to make up for some of the lost tax revenue? Also, does this make it more likely that properties without a homestead exemption will pay more?