Shea Lowers Boom on COTA for Attempted Property Tax Dodge. "COTA =

[AustinF1]

Shea Lowers Boom on COTA for Attempted Property Tax Dodge. "COTA = Cheap on Tax Appraisals"?

Now, I've never been a Brigid Shea fan, but she makes some very good points here.

http://www.statesman.com/news/news/opinion/shea-unfair-tax-system-shifts-burden-on-homeowners/nghwW/

 

Earlier this month, on the Fourth of July, we celebrated our nation’s Declaration of Independence from the British, sparked by unfair taxation. How ironic then, that Austin’s celebration took place at a business that is suing to avoid paying its fair share of property taxes.

According to the Statesman, Circuit of the Americas is arguing in court that “the $7 million plus property tax bill they receive in January is more than 2 1/2 times higher than it should be.” As one protester’s sign at the fireworks said, “COTA= Cheap On Tax Appraisals.”

Circuit of the Americas’ effort to cut its property tax appraisal by more than 60 percent is even more galling given the public largess they’ve received: $25 million-plus a year for 10 years in sales tax revenue from the region; a $14 million electric substation, paid for by rate payers; $13 million in water and wastewater lines, paid for by water customers; and $21.6 million and counting from Travis County taxpayers for roads. And now they’re arguing in court that their property tax bill should be $2.7 million instead of $7.3 million. They could easily pay their bill out of their sales tax rebates alone.

Circuit of the Americas’ overreach couldn’t come at a worse time. Homeowners are suffering under dramatic increases in their property tax appraisals, while a growing number of big businesses are under-appraised. As stated in a headline on the Statesman’s Sept. 29 article, “You pay more, they pay less … Texas’ tax appraisal system benefits commercial properties, shifting a greater burden to homeowners.” According to a new grass-roots movement called Real Values for Texas, “Big commercial property owners exploit loopholes in property tax law to knock an average 40 percent off their tax bill.” This number is confirmed by the Texas Association of Appraisal Districts and the Houston Chronicle.

Every homeowner I know would love to see a 40 percent reduction in their home appraisal. Instead they’re seeing an average increase of over 12 percent in Travis County this year. Many report increases much higher than that. This broken system is hurting families and literally driving them out of their homes. After campaigning door-to-door for five months, I’ve lost track of the number of people who’ve told me they have to sell and move away because their appraisals have gone up so much.