During a recent government meeting, discussions centered on property appraisal practices and the economic impact of property taxes on Texas businesses, particularly restaurants.
A key point of contention arose regarding the appraisal cycle in Tarrant County, where officials indicated that appraisals would occur every three years instead of the standard two-year cycle. Concerns were raised about the implications of freezing property appraisals for extended periods, with officials asserting that such practices are not permissible. They emphasized the necessity for annual inspections to ensure that property values reflect current market conditions, arguing that freezing appraisals undermines the integrity of the mass appraisal system.
Kelsey Erickson Stryford, chief public affairs officer for the Texas Restaurant Association, highlighted the critical role of restaurants in the state's economy, noting that they employ over 1.4 million Texans and contribute significantly to local economies. She pointed out that restaurants, which often operate on narrow profit margins, face substantial challenges due to high property taxes. Stryford urged lawmakers to balance the tax burden between businesses and residences, citing that prior to recent tax relief measures, businesses bore nearly 60% of the total state and local tax burden.
Stryford also addressed the need for continued support for small businesses, advocating for equitable tax policies that would allow Texas to remain an affordable place to live and work. She expressed gratitude for the inclusion of a circuit breaker in tax relief discussions, acknowledging its potential benefits for businesses facing steep property tax increases.
The meeting underscored the ongoing dialogue about property tax reform and its implications for the state's economic landscape, particularly for small businesses that are vital to Texas's economic health.