On Wednesday, the Texas Senate passed a key portion of an $18 billion package that would help both homeowners and businesses. The full property tax relief package is expected to be voted on and sent to Gov. Greg Abbott on Thursday.
AUSTIN, Texas — After months of delay, a plan to cut your property taxes is on the fast-track. On Wednesday, the Texas Senate passed a key portion of an $18 billion package that would help both homeowners and businesses.On Wednesday, the Texas Senate passed a key portion of an $18 billion package that would help both homeowners and businesses
While Democrats joined Republicans in passing the bills, they raised concerns about a lack of new money for schools. One even criticized House leadership for removing a Senate-backed amendment to give teachers a bonus. Republicans say that will be addressed in the next special session. The state can buy down M&O costs through what’s called “compression.” The governor wants to compress that rate to zero. If that happened, homeowners’ property tax bills would be cut by about 75%, according to TTARA. The governor said in June that revenue could be replaced with franchise and sales taxes. And, he argues more people will spend money, thereby generating more sales tax revenue, if they don’t have a big property tax bill.
“This is unrealistic. It’s unsustainable. And it again holds our schools hostage to what the state decides to do instead of their local communities,” added Rep. Donna Howard, D-Austin.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California Gov. Newsom slams Abbott for his 'disregard for human life'California Governor Gavin Newsom slammed Republicans for what he calls their disregard for human life, including Texas Gov. Greg Abbott.
Read more »
Watchdog Dave Lieber’s open letter to Gov. Abbott on electricity ratesShopping for a retail electricity contract in Texas is ‘the equivalent of a frontal lobotomy,’ one customer says. Here’s what to do about it.
Read more »
Gov. Greg Abbott raised $15 million in 12-day window after regular legislative sessionGov. Greg Abbott raised more than $15 million in just 12 days at the end of June, the most he has collected after a legislative session. His cash on hand now tops $23 million.
Read more »
Greg Abbott installs Texas border river buoy wall despite lawsuitAUSTIN, Texas — Gov. Greg Abbott (R-TX) is moving forward with the installation of a $1 million wall of floating buoys on the U.S.-Mexico border despite newly filed legal action that targeted the operation.
Read more »
See the Full List of 2023 Emmy Nominations From ‘Succession’ to ‘Ted Lasso’’The Bear,’ ‘The Last of Us,’ ‘White Lotus,’ ‘Abbott Elementary’ and more are among the nominations.
Read more »
Dallas under heat advisory until Wednesday night; temperatures will ramp up later in weekMajority of North Texas was placed under a heat advisory through Wednesday evening as storms moved through the region giving way to triple-digit temperatures.
Read more »