Congrats first-time home buyer, now pay up

It was bound to happen. One of the ripple effects of a recession coupled with higher minimum wages are tax hikes. Even though $0.13 isn’t terrible, we will feel it come January 2010 and beyond. Source:–2-4-million-shortfall

The gotcha here is that property taxes were reduced by the State in their last session (2007) with the promise that they wouldn’t touch them.  (See the cigarrette tax increase of $1 per pack versus raising property taxes to pay for CHIPS and education.) Well, they didn’t touch them that session, but this next session (82nd Legislature) is a different story and anything could happen. I think Texans are in for a big shock when the 82nd Legislature convenes.