State Lawmakers To Increase School Funding And Lower Property Taxes
Office Chamber2019-06-28T14:39:14-05:00The 86th Texas Legislature convened and concluded with shared priorities including public school funding and property tax reform.
Here’s a little breakdown of the two big bills:
Senate Bill 2 – Property Taxes
The Governor signed Senate Bill 2 (by Sen. Bettencourt – Houston) on June 12. The new law lowers the current 8 percent revenue cap to 3.5 percent, triggering an automatic election if the tax rate is exceeded. Taxing units would not be required to hold an election if they are going beyond the 3.5 percent cap in response to a natural disaster. The new law also prohibits taxing entities from adopting a future budget or taking any action that decreases the compensation of first responders. The […]