88th LegislatureStatewide NewsTaxes & SpendingTexas Senate Passes $16.5 Billion Property Tax Plan, Moves to the House
Onlookers now await the House's next move on its own plan along with the Senate's as the two chambers inch closer to sine die.
Onlookers now await the House's next move on its own plan along with the Senate's as the two chambers inch closer to sine die.
Punch and counterpunch have been exchanged between the chambers of the Texas Legislature over a portion of the property tax debate.
The seven items the governor named as priorities can be considered by the Texas Legislature immediately.
Taxes are on the mind of the Texas Legislature and while it may flow under the radar, business tax reform will be considered by the body next year.
Inflation has spurred a record-setting influx of consumption tax collections to the state, and legislators will now debate how to spend it.
After October 21, the county will be required to adopt the no-new-revenue tax rate due to a lack of quorum needed to pass a tax increase.
County Judge Glen Whitley has previously sparred with fellow Republicans over property taxes.
City Manager T.C. Broadnax proposed nearly $100 million more for police than the funding level adopted after the 2020 protests against police violence.
The city chose not to increase property taxes from the previous year, something few localities are planning this year.
While the city will lower its tax rate by two cents, it will not lower it to the no-new-tax revenue rate at which tax bills don't increase.
Local officials have available the appraisal information at the time they decide where to set tax rates.
The windfall in consumption taxes is due largely to inflation and high oil and gas prices which have brought in record collections.