The 86th Texas Legislature wrapped up its business for the biennial on Memorial Day, passing bills on school reform and property taxes in the last few days of the session.
Legislators convened in January for the 140-day lawmaking session held every two years. Top priority this year was to address the rapid rise of property taxes and to increase the state’s portion of financing public education.
Bills passed by the legislature now await the signature of Gov. Greg Abbott before they become effective.
Senate Bill 2 on property tax reform does not lower property taxes. Instead, it slows the growth of property tax bills by capping the annual increase from existing properties to 3.5 percent for cities, counties, hospital districts and community colleges and would automatically trigger a tax rollback election if an entity exceeds that amount. Currently, the cap is eight percent, which allows taxpayers to petition for a rollback election.
By Joe Reavis • Staff Writer • [email protected]