Property tax reform bill goes to conference committee
AUSTIN — The Texas House of Representatives on May 1 passed Senate Bill 2, legislation proposing to bring property tax relief to homeowners, but the lower house slowed the bill’s momentum by tacking on 25 floor amendments.
If finally passed in the coming days, the legislation would lower the rollback rate for most local taxing authorities from 8 percent to 3.5 percent and 2 percent for school districts. The bill also allows local option elections on proposals to exceed rollback rates.
SB 2, like House Bill 1, the state budget bill, is now in the hands of a conference committee of five House members and five Senate members tasked with producing a final, agreed-to version. Meanwhile, all eyes are on the calendar and the clock as constitutional deadlines set in and the May 27 end of the session grows near.
Gov. Greg Abbott lauded the progress made on the property tax reform bill. “For too long, Texans have watched their property taxes skyrocket while being reduced to tenants of their own property. That is not the Texas way,” Abbott said.
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