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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (18351)	3/9/2004 4:24:29 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

i read in the paper the other day that the Dallas Chamber of Commerce endorses a plan to cut property tax by half. the Texas governor is also pushing for some form of property tax relief--rates are between 2.5% and 3.2% in most major Texas cities. i think there will be some business tax increases, maybe some more legalized gambling, and then, eventually, some income tax. i guess a 50% cut in property tax could add 10-15% to home values, based on the cost relative to a mortgage at 6%. but by the time it gets going, maybe the housing crash will have begun. i guess one benefit of high property taxes in TX is that the housing bubble hasn't gotten as far out of hand as in CA.