Republican state Rep. Jay Dean of Longview recently proposed a bill to replace school maintenance and operations property taxes with a value-added tax. The news might sound like music to the ears of Texas property owners, who have vociferously spoken against property taxes as their tax bills have continued to climb.

Lawmakers on a key Texas Senate panel Friday advanced a proposal to put a tighter limit on how much more cities and counties can collect in property taxes each year without asking voters.

The Texas Legislature heeded the call of business leaders to permanently extend and expand the state’s research-and-development tax credit, which is estimated to lead to the creation of 113,000 jobs and generate nearly $139 billion for the state’s gross domestic product over the next decade.

Speaker of the Texas House Dustin Burrows, a Lubbock Republican, offered his assessment Thursday at a luncheon presented by the Texas Taxpayers and Research Association and the Permian Basin Petroleum Association.  

Local government property tax rates are split into two distinct portions: one for maintenance and operations, and one for interest and sinking, or debt service on bonds used for specific projects. Operations revenue isn’t meant to repay debt, and vice versa, which Bettencourt said prompted his legislation.