Property Tax Reform
What to Know: Property taxes—and protecting the limits set by the last Legislature—will be a big focus of lawmakers’ attention this session.
The TPPF Take: In 2019, the Texas Legislature passed the most significant tax reform seen in modern times.
“The new law—Senate Bill 2, otherwise known as the Texas Property Tax Reform and Transparency Act—empowers voters with the right to decide on big tax increases,” says TPPF’s James Quintero. “Under SB 2, property tax revenue growth for cities, counties, and certain special districts is limited to 3.5% annually, unless voters approve a larger increase. For schools, the new limit is 2.5 percent, with no option for going over. These protections ought to be maintained including any misuse of disaster declaration exemptions.”
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