Senate committee starts work on property tax reform

AUSTIN — Voters would have the power to prevent their local governmental bodies from increasing property taxes by more than 2.5 percent per year under legislation introduced in the Texas Senate and House on Jan. 31.

Senate Bill 2 and identical House Bill 2, both 116 pages in length, propose to amend the current law, in which local taxing authorities may increase taxes up to 8 percent each year before a rollback election would be required. Cries for relief are widespread, given the leeway current law affords and the fact that county appraisal districts may increase the value of property at the same time.

Lt. Gov. Dan Patrick, who presides over the Senate, said, “People desperately need property tax reform, our businesses need property tax reform, and we have set out, on this date, early in session, with a major piece of legislation. We are setting the tone for the rest of the session on this issue,” Patrick added.

 

 

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