Texas Scorecard by Soli Rice November 17, 2022
Ninety percent of the $27 billion in excess revenue would go toward “buying down” the school portion of Texans’ property tax bills.On Monday, the Texas Legislature began its bill prefiling period, and newly elected Republican State Rep. Ellen Troxclair wasted no time in filing her first bills as an incoming representative. Troxclair’s House Bill 629 works to provide property tax relief to Texans.
Property taxes in Texas are among the highest in the nation, with the majority going to school district M&O (Maintenance and Operations). Every year, Texas homeowners pay thousands of dollars in property taxes.
This fall, Texas Comptroller Glenn Hegar revealed that there was a state surplus of $27 billion. During the gubernatorial debate this October, Gov. Abbott explained that he plans to use that excess revenue to “eliminate school property taxes” so Texans can “genuinely own their own home without being taxed out of it.”
In support of Abbott’s plan, Troxclair developed a bill that would put 90 percent of the $27 billion surplus towards “buying down” the school portion of property taxes.
More:
https://texasscorecard.com/state/texas-state-rep-elect-files-legislation-to-buy-down-property-taxes/
