All real and tangible property in Texas is subject to local taxation based on value, unless the Texas Constitution provides for a total or partial exemption.  

The franchise tax has been levied in Texas for over 100 years and has existed in a variety of forms, from a capital stock tax, to a tax on net earnings, to its current form as a tax on margin.

An Introduction to School Finance in Texas – Fourth Edition, Revised February 2018

Hurricane Harvey – The Fiscal Toolbox

Wrap-Up for the 85th Legislature: Taxes and School Finance