Houston Revenue Cap causes Tax Cut

Revenue caps and tax cuts are de rigueur in conservative tax paralance. Ten years ago Houston voters imposed a revenue cap. The city revenue is hitting the cap; forcing a rollback.

What does this mean? If your Houston property value is $200,000, you’re rollback is $12.27 or roughly 3 cups of coffee. With every peak there is a valley, in 6 months, Houston will face a deficit of $120 Million. [Houston Chronicle]