Whereas the City of Austin is experiencing strong growth in new properties being added to the tax rolls every year; and
Whereas new properties mean new sources of revenue each year totaling in the millions of dollars; and
Whereas, in spite of the growing tax base and rising property values, the City repeatedly raises the tax rate and takes in a higher percentage of dollars year after year,
Therefore, we resolve that the City should henceforth set budgets according to the Effective Tax Rate, which would allow the city to collect the same amount of revenue as it did the previous year, with additional revenue coming in only from new properties on the tax roll, thereby providing immediate tax relief to property owners and hedging them from future bloated tax rate increases.
Signed: The Austin Tea Party
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