Could Dean’s value-added tax replace property taxes? Here’s what tax policy experts say
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.
Read MoreTexas cities, counties may face new limits on raising property taxes
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.
Read MoreTexas Senate passes bill targeting tax-funded financing structures like Austin’s Project Connect
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.
Read MoreTexas House OKs bill to raise tax exemption for local businesses
House Bill 9, authored by Rep. Morgan Meyer, R-University Park, would expand the exemption for tangible personal property from $2,500 to $250,000 of the appraised value. Personal property includes equipment, furniture and vehicles.
Read MoreReducing Taxes on Personal Property: A Sigh of Relief for Texas Businesses
FOR IMMEDIATE RELEASE April 1, 2025 Reducing Taxes on Personal Property A Sigh of Relief for Texas Businesses AUSTIN — A research report released today by the Texas Taxpayers and Research Association (TTARA) shows that property tax exemptions for business personal property would make the Texas economy more competitive and create a fairer tax…
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