02 November 2006

BlogHouston jumps the gun

There's a proposal on the table, to be voted on in a week by City Council to increase property tax revenues in Houston. An important point to note on this is that assessed property values have gone up quite a bit this year.

In their unending quest to trash Houston City Government and Council, BH has its knickers in a knot over it being a rate increase. Sorry kids, read the announcement carefully.

1. The goal is to raise revenues by 2.45% between the previous and current year.
2. The change in taxable property values (after exemptions) is about +7% between the previous and current year.
3. The change in the tax rate is about -.39%, or -$0.00250 per $100 value.
4. A brief calculation using advanced mathematics indicates that using a slightly lower tax rate on a much higher assessed value yields greater revenues.

Maybe they got confused between revenue and rate... and 2.45% and -$0.00250.

Or maybe their axe is getting dull and this was an easy grind. I wonder, if they see their error, if they will pull the alarmist post.