Build on final memo from the proposal submitted below. Feel free to rewrite or edit how needed but must include the 3 primary sources ond others included below. The 3 primary have to be used.
The memo is to be 1000 original words. To ensure you meet the word
count, remove all cited information (quotes and paraphrasing) from your
document. Without any of these, you should have 1000 words.
You must use your sources and cite them in-text according to MLA
guidelines.
The formatting protocol for a memo requires single spacing.
Include citations in the correct MLA format.
MEMO PROPOSAL & (7) CITATIONS Below:
Memo
Date: April 26,
2022
Memo To: Greg
Abbott, Governor of Texas
From: F Hernandez
Subject: Property
taxes in Texas
Governor Abbott,
As a Texas
property taxpayer, I am writing today concerning the rapid increase in Texas
property taxes and to emphasize how important it is for them to cease from
rapidly increasing annually in order to prevent a repeat of the housing crisis
in 2018.
Current Problem
As you are aware, Texans
have a 10% cap on the amount of assessed value that can increase on properties
with homestead exemptions. As an
example, my home’s value has increased because investors are buying properties
to rent out or sell for profit, and property taxes have been increasing as a
result of higher purchase prices or over-market prices. Texans that had a lower mortgage payment 10
years ago prior to inflation, which has risen from the COVID pandemic, can be financial
impacted by increased assessment rates, since Texas has one of the highest tax
rates in the country.
Solution
We urge you, along
with our Texas state leaders, to consider a property tax reform that will
benefit our economy and all Texans as you consider the next bill proposal. A few recommendations to take into
consideration are the school finance revision and property tax issue, raising
the homestead exemption, and an annual review and mandate of contracts for
deeds (CFD) is required.
The school finance
revision and property tax issue. There is a serious
property tax issue facing the state; the last major school finance revision
occurred in 2016 and the lawsuit claims that the method for financing public
schools resulted in unconstitutional property tax (Burrows 41). I oppose any cut in school taxes since they
are essential for our children, and I support maintaining property taxes.
Raise the
homestead exemption. Senate Republican
Paul Bettencourt proposed increasing the state’s homestead exemption last year
so homeowners could save money (Fechter).
It may be feasible for the state to control inflation of home values by
maintaining a buyers’ market instead of a sellers’ market.
An annual review
and mandate of contracts for deeds (CFD) is required. Developers responded to the legislative
reforms by shifting away form CFDs and into other forms of seller financing
(Ward, et al. 152-83). When the state
legislation maintains a reasonable policy, all buyers, including low-income,
will maintain their residence without defaulting on unreasonable loan
obligations.
Call to Action
I am aware of the
immense task facing our elected officials, and I stand with you to resolve this
issue for all Texans. With your
guidance, Texas residents would be significantly supported and heard to see
that a resolution is found to benefit property taxpayers. I would be glad to discuss this
recommendation with you and follow through on any decisions you make.
Sincerely,
Works Cited:
1.Alan Burrows. “School Finance and Tax Reform
in Texas.” Journal of State Taxation, vol. 33, no. 2, CCH
INCORPORATED, 2015, p. 41.
2.Cortes, Kalena E., and Andrew I. Friedson. “RANKING UP BY
MOVING OUT: THE EFFECT OF THE TEXAS TOP 10% PLAN ON PROPERTY VALUES.” National
Tax Journal, vol. 67, no. 1, National Tax Association, 2014, pp. 51–76, https://doi.org/10.17310/ntj.2014.1.02.
3.Fechter, Joshua. “Texas
Voters Will Decide Whether to Lower Their Property Tax Payments after
Legislature Completes Last-Minute Hail Mary.” The Texas Tribune, The
Texas Tribune, 19 Oct. 2021,
https://www.texastribune.org/2021/10/18/property-tax-exas-legislature/.
4.Haney, Josh. The (Long,
Long) History of the Texas Property Tax, Comptroller.Texas.Gov, Oct. 2015, https://comptroller.texas.gov/economy/fiscal-notes/2015/october/proptax.php.
5.Lavine, Dick. “How to
Improve Texas’ Property Tax System – Update.” Every Texan, 19 Jan.
2022,
https://everytexan.org/2022/01/19/how-to-improve-texas-property-tax-system-update/.
6.Mikael Garcia. “ROLLING BACK PROPERTY TAXES IN
TEXAS: A CRITIQUE OF THE ARGUMENTS BROUGHT FORTH BY VARIOUS ORGANIZATIONS
AGAINST LOWERING THE PROPERTY TAX ROLLBACK RATE IN THE LONE STAR STATE.” Texas
Review of Law & Politics, vol. 23, no. 3, University of Texas, Austin,
School of Law Publications, Inc, 2019, pp. 489–540.
7.Ward, Peter M., et al. “Protecting Homebuyers
in Low-Income Communities: Evaluating the Success of Texas Legislative Reforms
in the Informal Homeownership Market.” Law & Social Inquiry, vol.
41, no. 1, Blackwell Publishing Ltd, 2016, pp. 152–83,
https://doi.org/10.1111/lsi.12125.
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