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Read the full testimony with charts and data here: https://www.vanceginn.com/letpeopleprosper/testimony-before-the-texas-senate-committee-on-finance-presented-by-vance-ginn-phd-on-september-4-2024
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 Chair Huffman and Members of the Committee, Thank you for the opportunity to testify today. I am Dr. Vance Ginn, president of Ginn Economic Consulting. Over the last decade, the Texas Legislature has made progress in property tax relief, but the affordability crisis demands more action. Property taxes are not just a financial burden—they are fundamentally immoral. They force Texans to perpetually rent from the government, functioning as unrealized capital gains and wealth taxes paid annually. This system makes it difficult for families with low or fixed incomes to build and pass on a legacy.  Last session, despite a $32.7 billion surplus, new property tax relief was limited to just $12.7 billion. And the state budget increased by a record 32% in state funds from GAA appropriations to appropriations  Although this was the second-largest tax relief amount in Texas history, property taxes increased by $165 million last year from excessive spending by local governments.  The path forward is clear: spend less and reduce property tax rates rather than complicating the housing market with homestead exemptions, discounts, and abatements that make elimination more difficult. To eliminate property taxes, consider three simple steps:
 This three-step process will help curb soaring property taxes and pave the way for a more prosperous future without property taxes to preserve life, liberty, and prosperity. Thank you for your time, and I’m glad to answer any questions.
 The hearing is scheduled for today at 10 am ET at Longworth House Office Building: Hearing on the U.S. Tax Code Subsidizing Green Corporate Handouts and the Chinese Communist Party. Below is the video of the full hearing (my statement starts at time 27:30 with other comments throughout the 4-hour-long hearing). And below that is my written testimony based on this recent research on The Inflation Reduction Act's Costly New Tax Credits for Electric Vehicle Batteries and the policy brief. Texans are facing a crisis when it comes to paying for their skyrocketing property taxes, inflated bills, and saving for a rainy day. In fact, many Texans are living with the fear that exorbitant taxes could take their home away or keep them from buying their first home. The Foundation has developed a balanced, practical solution to lower property taxes by eliminating the maintenance and operations (M&O) property taxes while also funding the needs for critical services. Invited Testimony Before the Texas Senate Finance Committee https://www.texaspolicy.com/lower-taxes-better-texas-3/ Texans are facing a crisis when it comes to paying for their skyrocketing property taxes, inflated bills, and saving for a rainy day. In fact, many Texans are living with the fear that exorbitant taxes could take their home away or keep them from buying their first home. The Foundation has developed a balanced, practical solution to lower property taxes by eliminating the maintenance and operations (M&O) property taxes while also funding the needs for critical services. Invited Testimony Before the Texas House Ways & Means Committee https://www.texaspolicy.com/lower-taxes-better-texas-2/ |
Vance Ginn, Ph.D.
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