January 28, 2025 | Driving It Home with Unlock MLS' Housing Economist

In this episode of Driving It Home, Housing Economist Dr. Clare Knapp and Taylor Smith, Deputy Director of Government Affairs, discuss Texas property taxes and their impact on homeowners. Taylor explains the state’s unique tax system, where local governments collect property taxes for schools, roads, and public services. Despite recent $18 billion tax relief measures, including increased homestead exemptions and school tax rate reductions, rising property appraisals—driven by pandemic-era housing market surges—continue to strain homeowners, highlighting affordability as a key issue.Taylor addresses why property taxes remain high despite declining Austin home prices, citing appraisal lags, steady tax rates due to local budget needs, and voter-approved bonds for community improvements. These factors create a complex challenge, balancing relief for homeowners with funding essential services like schools and public safety.The episode offers practical advice for managing property taxes, including protesting appraisals, planning for annual increases, and staying engaged in local budget and tax discussions. Listeners are encouraged to join ABoR advocacy efforts, such as workshops and REALTOR® Day at the Capitol, to advocate for meaningful tax reforms and better support Texas homeowners. Links MentionedREALTOR® Day at the Capitol | Mar. 26 https://www.unlockmls.com/event/realtor-day-at-the-texas-capitolABoR Advocacy https://www.unlockmls.com/advocacyEmail ABoR Advocacy | [email protected] Download an episode transcript: https://assets.ctfassets.net/pu0snv8rn9fa/1j60KUfPo8gjrypjKS6yCJ/a51f28d42aed696e8be518508ae084a0/DIH-1-28-25.pdf Listen On:Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC Connect with us on socials: https://www.unlockmls.com/socialsConnect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey  Have feedback? Email us at [email protected].