State lawmakers are debating whether to cap the amount of property taxes that can be collected by Texas municipalities.
Those in favor say Senate Bill 2 would provide relief for hard-pressed homeowners and small-business owners. Local leaders say this would choke off dollars needed to pay for police, fire, emergency and other city services.
As reported by Texas Public Radio's Ryan Poppe:
"As property values increase, the tax rate goes down and vice versa. Once that rate reaches more than 8 percent, voters can petition their local taxing entity to lower that rate back down to 8 percent. [Senator] Bettencourt’s bill would keep the local tax rate at 5 percent or lower."
What would a statewide cap on property taxes mean for cities and counties across Texas? If enacted, how would this legislation affect essential services funded by local property taxes?
- Texas State Senator Paul Bettencourt - District 7, chairman of the Senate Select Committee on Property Tax Reform and Relief
- Nelson Wolff, Bexar County Judge
- Daniel Gonzalez, legislative affairs director for the Texas Association of Realtors
- Michael Amezquita, chief appraiser for the Bexar County Appraisal District