Proposition 1 passed in the general election last night in Austin, Texas. The net effect is that property taxes go up. Hence, rents will be on the rise in 2013 and again for every increase to the Travis County Healthcare District future rates.
I will have to work an extra week of work in order to pay for the yearly increase in property tax, which will result in increased rents.
Here is how it appeared on the ballot:
“Approving the ad valorem tax rate of $0.129 per $100 valuation in Central Health, also known as the Travis County Healthcare District, for the 2013 tax year, a rate that exceeds the district’s rollback tax rate. The proposed ad valorem tax rate exceeds the ad valorem tax rate most recently adopted by the district by $0.05 per $100 valuation; funds will be used for improved healthcare in Travis County, including support for a new medical school consistent with the mission of Central Health, a site for a new teaching hospital, trauma services, specialty medicine such as cancer care, community-wide health clinics, training for physicians, nurses and other healthcare professionals, primary care, behavioral and mental healthcare, prevention and wellness programs, and/or to obtain federal matching funds for healthcare services.”
Travis County TaxPayers Union Asks for Injunction against Prop 1 illegal & misleading ballot language