Property tax reform overview
Friday, February 1, 2019
• Identical property tax reform bills filed in the Texas House and Senate yesterday were announced at a press conference hosted by Gov. Greg Abbott, Lt. Gov. Dan Patrick, House Speaker Dennis Bonnen, and attended by the authors, State Rep. Dustin Burrows (R–Lubbock) and State Sen. Paul Bettencourt (R–Houston). Brandon Waltens has details from the press conference. The measures are styled as House Bill 2 and Senate Bill 2; a hearing has been scheduled for Wednesday in front of the Senate Committee on Property Tax.
• Destin Sensky reports the legislation makes big changes to the property tax system, in part by making it more transparent to taxpayers. Taxing entities would be required to provide more information in plain language on their websites and in mailings to taxpayers.
• The House and Senate measures also rename what is currently – and confusingly – known as the “effective tax rate.” It would now be called the “no-new-revenues tax rate,” the tax rate which collects the same amount of revenues as the previous year.
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