Texas Would Need About $81.5 Billion a Year to End Property Taxes, Officials Say
Texas would have to spend tens of billions of dollars to get rid of the state’s property taxes, state budget officials said Wednesday — a reality check on some conservatives who want to end them once and for all.
Read MoreRemoving Texas property taxes could double sales tax, but expert believes casinos could bring relief
The state uses that money for schools, infrastructure, and other projects. To replace the property taxes, the Texas Taxpayers and Researchers Association said the state’s sales tax figure would have to more than double by more than 20%.
Read MoreTexas would need about $81.5 billion a year to end property taxes, officials say
Texas Republicans have been trying to reduce the state’s high property taxes for years, but some acknowledge eliminating them would be too expensive.
Read MoreTexas Republicans have tried to rein in property taxes for five years. Has it worked?
For the past five years, Republican lawmakers have been on a crusade to rein in the state’s property taxes, among the highest in the nation. Last year, they went big with a $12.7 billion package comprised of tax breaks for homeowners and money for school districts to drive down how much they collect from property…
Read MoreTX school districts say bonds won’t increase taxes. Ballots say otherwise. What’s the deal?
The statement must appear alongside school bond propositions, even if the measure being voted on will not increase property tax rates — a point area districts are emphasizing as voters head to the polls.
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