Emails, Joe Wisnoski, associate, Moak, Casey & Associates, Dec. 4, 2013
From: Selby, Gardner (CMG-Austin) [mailto:wgselby@statesman.com]
Sent: Wednesday, December 04, 2013 10:33 AM
To: Joe Wisnoski
Subject: This correct?
This accurate?
In our visit, you offered your ballpark estimate that the 1997 actions that led to the expansion of the homestead exemption have a current-day annual value of about $1 billion with the annual value of the 2006 tax-rate actions being about $6 billion. You also said you have no quibble with calling the 2006 decisions the largest school property-tax reduction in state history.
?
Thanks.
g.
W. Gardner Selby
PolitiFact Texas
Austin American-Statesman
From: Joe Wisnoski
Sent: Wednesday, December 04, 2013 10:53 AM
To: Selby, Gardner (CMG-Austin)
Subject: RE: This correct?
I went back to check the homestead exemption issue again. The value loss from the extra $10,000 exemption is only about $50 billion (my mental math was off). So the school taxes lost on that reduction in taxable value are probably in the range of $650-$700 million per year. The $1 billion figure you had must have been for a biennium. I also checked the Comptroller’s self report of property values, and the total value of the homestead exemption is about $1 billion (that’s the full $15,000 exemption, and the extra $10,000 would be about two-thirds of that.
In terms of the 2006 cut, I think I would characterize the $6 billion as a conservative estimate.
___________________________________
Joe Wisnoski, Associate
Moak, Casey & Associates
11:53 a.m.
The value loss from the extra $10,000 exemption is only about $50 billion (my mental math was off). So the school taxes lost on that reduction in taxable value are probably in the range of $650-$700 million per year. The $1 billion figure you had must have been for a biennium. I also checked the Comptroller’s self report of property values, and the total value of the homestead exemption is about $1 billion (that’s the full $15,000 exemption, and the extra $10,000 would be about two-thirds of that.
In terms of the 2006 cut, I think I would characterize the $6 billion as a conservative estimate.
___________________________________
Joe Wisnoski, Associate
Moak, Casey & Associates
"Selby, Gardner (CMG-Austin)" <wgselby@statesman.com> wrote:
So, your sense is that the 1997 actions have a current-day annual value of about $$650 million to $700 million with the annual value of the 2006 tax-rate actions amounting to at least $6 billion. Si?
12:06 p.m.
Yes.