What is Truth in Taxation?
Truth in Taxation is a reliable way to increase government transparency and accountability for property tax increases. While it does not limit property tax rates, it does make local elected officials think twice about increasing property taxes.
Any local government that maintains a website must publish a 10-day advance notice of the public hearing date, time, and location of the proposed property tax hike vote.
The proper function of taxation is to raise money for core functions of government, not to close budget gaps created by overspending. Local governments that have a spending problem (10%+ debt to asset ratio) will be required to give detailed notifications to taxpayers in advance of a vote.
Taxpayers will be notified of the proposed rate increase, how much their individual taxes will go up in both dollars and percentage and given at least 10 days advance notice of the hearing date, time, and location of the vote.
Local officials must allow any interested taxpayer the opportunity to speak for or against the tax increase. The final vote to increase property taxes may only take place after officials have heard from all interested taxpayers.