Taxes

Ryan E. Poppe

AUSTIN — A newly struck budget deal is giving new Republican Gov. Greg Abbott the tax cuts he demanded but remains blemished by skepticism that Texas homeowners will notice any savings.

Ending weeks of discord between the House and Senate, the agreement late Thursday on a $3.8 billion package of new exemptions puts Abbott close to signing Texas’ biggest tax cuts in a decade and the bragging rights of finishing his first legislative session on time.

Republicans campaigned hard on tax cuts in 2014, and after the Legislature adjourns June 1, they can boast to voters back home they delivered. But even House Republicans have doubted their base will feel roughly $120 knocked off their property taxes, given fast-rising home appraisals in Texas, is enough.

Bexar County Appraisal District

As Bexar County homeowners open their annual appraisals, many are surprised at the jump in their property values.

Coming on the heels of last year's seven percent rise is this another hike of 11 percent. It has a lot of people talking and has even become a political talking point for candidates wrapping up this year's Mayoral race.

Higher Taxes Loom With Rising Property Values

May 1, 2015

Local homeowners are suffering sticker shock after seeing a double-digit percentage increase in the appraised value of their property. Residential real estate values are up an average of 11 percent this year in Bexar County, a reflection of the area’s sizzling housing market. That’s on top of a 7 percent increase last year, which snapped a string of years with flat or falling assessments.

If you're about to tie the knot, do you know how a change in marital status could affect the credit you got toward health insurance when you were single? You could end up having to repay a big chunk of the money. Here's the question and an answer that lays out the way the IRS handles the situation.

The old saying goes, "Nothing is certain except death and taxes." But the Affordable Care Act has added a new wrinkle.

For many policyholders, the ACA has introduced a good deal of uncertainty about their tax bills. That has led to surprise refunds for some and higher-than-expected tax payments for others.

Pages