Governor Outlines Budget Priorities in his State of the State Speech
February 3, 2017 In this issue: Governor Outlines Budget Priorities in his State of the State Speech LBB Efficiency Review Released Bills of Interest: Franchise Tax, Local Sales Tax Administration and Property Tax Legislative and Property Tax Committee Meetings Wednesday Feb. 8 Webcast Update Thursday Feb. 9 Governor Outlines Budget Priorities in his State…
Read MoreCommissioner’s Directive Reduces Houston ISD Property Detachments
Commissioner’s Directive Reduces Houston ISD Property Detachments Commissioner of Education Mike Morath issued a directivelast night that, beginning with the current school year, TEA will recognize 50% of the optional homestead exemption when calculating the amount recaptured from property wealthy school districts. This will reduce the recapture/detachment demands on Houston ISD by approximately $60 million,…
Read MoreTTARA Releases Chapter 313 Report
TTARA Releases Chapter 313 Report Texas’ high property taxes place a huge barrier before companies looking to invest in major capital projects. To lower that barrier, local taxing units are able to offer incentives that temporarily reduce the amount of property tax due. Cities and counties are able to offer tax abatements under Chapter 312…
Read MoreComptroller Draft “Technical” Bills Released
Comptroller Draft “Technical” Bills Released Last Friday the Comptroller’s Office circulated for comment drafts of five “technical correction” bills that are being considered for introduction this session. They include: Sales Tax Master Recording – relating to a sales and use tax exemption for property used in the production of motion picture, video or audio master…
Read MoreBudget Season Begins with a Sobering Revenue Forecast from Comptroller Hegar
Budget Season Begins with a Sobering Revenue Forecast from Comptroller Hegar State Comptroller Glenn Hegar released his formal estimate of available revenues for the upcoming legislative session, which begins tomorrow. Under the Texas Constitution, the legislature may not spend more than what the Comptroller certifies, absent extraordinary measures. Comptroller Hegar forecast that overall general revenues…
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