Texas House Passes Property Tax Reform Bill
The Texas House has passed a property tax reform bill. The bill passed 107 to 40. The bill is designed to slow the rise in property tax overall, according to EastTexasMatters.com. It would make cities and counties have to get voter approval to increase tax revenue by 3.5% more than the year before. Senate Bill 2 cannot go into effect unless House Bill 3 goes into law also. House Bill 3 is the school finance reform bill.
Governor Gregg Abbott released the following statement:
"For too long, Texans have watched their property taxes skyrocket while being reduced to tenants of their own property. That is not the Texas Way. Thanks to the leadership of Chairman Burrows and Chairman Bettencourt, Senate Bill 2 has passed both chambers and we are one step closer to reining in skyrocketing property taxes. In the final days of the legislative session, I am confident this historic legislation, combine with additional reforms working their way through the system, will reach my desk where I will sign them into law. I look forward to working with Lt. Governor Patrick, Speaker Bonnen and the entire Legislature to deliver lasting property tax relief to every Texan."