Property tax reform bill SB2 gains steam in 86th Texas Legislature

By Lew K. Cohn
Managing Editor

After a contentious day of discussion, the Texas House of Representatives on Tuesday, April 30, approved Senate Bill 2, which leaders of both chambers are calling a victory for tax reform and limited property tax growth. House members then finalized their vote on Wednesday, May 1.

Senate Bill 2 reduces the percentage cities, counties, school districts and non-school taxing districts can raise their property tax rate in a year before taxpayers would have the chance to hold a tax ratification election.

With some notable differences between the versions approved by the House and Senate, the bill now will go before a conference committee to iron out the final draft of the legislation.

State Rep. Terry Wilson, R-Marble Falls, voted for the legislation approved by the House on Tuesday. He said his district received more than 2,000 communications from constituents about the bill and advised residents of Burnet County the bill will not provide “tax relief.”

It is not a 'tax relief' bill, since it is not lowering your tax burden to less than what it is right now,” Wilson said. “It is about reforming the system to slow down the rate at which your tax bill increases as your property increases in value, especially since your paycheck often doesn’t keep up with those changes.

This does not cap the revenue, but makes sure that a local taxing entity would have to ask the taxpayers for permission at the next November ballot in order to raise more revenue than their rollback rate would raise.” . . .

Find the rest of this story in the Friday, May 3 issue of The Highlander, the newspaper of record for the Highland Lakes. To offer a comment or news tip, email lew@highlandernews.com.

 

 

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