In May 2019 significant property tax reform bills passed the Texas Legislature, promising property tax relief and higher funding for schools.[1] Senate Bill 2 tackles property tax issues, and House Bill 3 directly deals with school finance reform. House Bill 3 raised the amount per student each district is allotted from $5,140 to $6,030, and also reduces school property tax rates by about four percent per $100 in property value.[2] House Bill 1 is the overall budget for Texas. The tax reduction was achieved by allocating $6.6 billion from the rainy-day fund, leaving an estimated $8.4 billion in two years.[3] In these three bills, the 86th Legislature of Texas increased school funding as well as lowering the burden on property owners.
References
- ^ Riane Roldan; Shannon Najmabadi (June 12, 2019). "Texas Governor Abbott signs bill designed to limit property tax growth". Texas Tribune.
- ^ Cassandra Pollock; Aliyya Swaby (May 23, 2019). "Texas' legislative leaders say they have a deal on school finance and property tax reform". Houston Public Media.
- ^ "Focus on State Finance. 86th Legislature,Texas House of Representatives" (PDF). House Research Organization.