House Passes Property Tax Relief Package
From The Texas Minute
Last night, the Texas House followed the Senate in adopting the agreed-upon property tax relief package announced late last week.
No substantive changes have been made. Conservative lawmakers were thwarted in their attempt to put the state on a path toward eliminating school “maintenance and operations” levies.
The compromise plan increases the homestead exemption from $40,000 to $100,000 and puts $7 billion toward lower school property tax rates. The package creates a 3-year program for capping property tax appraisal increases on non-homesteaded properties while reducing the number of businesses subject to the state’s franchise tax.
Gov. Greg Abbott has said he would sign the legislative package when it reaches his desk.
Economists and fiscal watchdogs, like Texans for Fiscal Responsibility, have criticized the plan as not doing enough to offer lasting relief to the state’s taxpayers.
Bastrop County Beacon: News with Integrity, Because Facts Matter.
http://www.bastropcountybeacon.com
Keep informed on events and situations in Bastrop County by following the Bastrop County Beacon’s Facebook page!
