Not content with exciting our readers with thrilling articles about open records policy, I thought it would be fun today to dive into another pulse-pounding topic – property taxes.
Earlier this week, The Oklahoman and News 9 reported on a push by Oklahoma Governor Kevin Stitt and state lawmakers to cap and lower property tax increases.
The proposal would essentially hand yet another large tax cut to their wealthy campaign donors, toss a few crumbs to middle-class homeowners, and screw over the poor by quietly laying the foundation for Oklahoma’s next state budget crisis.
Via The Oklahoman:
Republican Gov. Kevin Stitt is calling on lawmakers to unite behind his proposal to freeze or cap Oklahomans' property taxes.
Stitt said he would like the Legislature to take steps toward freezing property taxes. He also suggested that lawmakers could cap the increase of property taxes to 1% or make it so that when homeowners buy property, they would continue to pay the property tax rate from when they bought the property, without yearly increases.
As a landowner who pays property taxes, I’m not going to yell too loudly if Stitt lowers my tax bill. Come on, I’m not that dumb!
But…
I do want to go on record and say this plan – like most GOP super majority ideas – disproportionately benefits wealthy people who own lots and lots of property, and probably will cause a future budget crisis down the road. Sure, I’m only saying that so I can pull an “I’m right”later, but it’s worth pointing out.
Naturally, Stitt’s buddies in the Legislature seem to be on board with the plan.
According to News 9, a Senate Rules Committee recently advanced Senate Joint Resolution 39 by an 18–2 margin. It will put the property tax issue to a rubber-stamp vote of the people.
SJR 39 submits to a vote of the people a constitutional amendment that modifies the limit to annual growth of the fair cash value of real property to 5% as it relates to ad valorem taxation and further limits the annual growth to 3% for real property for which a homestead exemption is granted and real property classified as agricultural land.
The SJR reduces those rates to 3% and 1% respectively.
If this makes the ballot – and it probably will – I’d say it passes by about a 66% – 34% margin.
That prediction isn't based on wild guesses or polling, but on the fact that about 66% of Oklahomans are homeowners! Regardless of your political affiliation or beliefs, it’s pretty easy to anonymously vote "Yes" to cap or lower their own taxes, even if in the long run it better benefits the wealthy! Money is money… right?
That’s the pitch Stitt is making:
"I'm just trying to limit government and let the people keep their money," Stitt said at a Greater Oklahoma City Chamber meeting Wednesday, March 4.
Not to be that guy, but if Stitter really wanted to help everyday Oklahomans “keep more of their money,” maybe a better plan would be to do something about our sky-high home insurance rates. You know, the ones that are the highest in the nation:
Seriously, wouldn’t it make more sense to save Oklahomans money on insurance instead of property taxes?
The excessive money we send to the Allstates and Farmers of the world mostly goes to fatten the wallets of insurance executives and shareholders, while property taxes actually fund things communities rely on – like schools, roads, and county services. When you freeze or cap that revenue, the money has to come from somewhere else. That usually means shifting the burden to other taxes, cutting services, and – of course – another state budget crisis.
But then again, what do I know? I’m just being logical and rational about a complex issue. I’m not an anti-government huckster with an agenda to lower my buddies’ taxes before I leave office.
Stay with The Lost Ogle. We’ll keep you advised.
