AUSTIN (WBAP/KLIF) – Days before the end of the legislative session, Texas leaders claim to have a deal on school finance and property tax reform.
With Lt. Governor Dan Patrick and Speaker of the House Dennis Bonnen at his side Thursday, Governor Greg Abbott said House Bill 3 helps accomplish what lawmakers called the top priorities of the session.
“It lowers school property tax rates by an average $.08 in 2020 and $.13 in 2021,” Abbott said.
The negotiated bills addressed by Abbott include, House Bill 1 which includes the proposed budget, Senate Bill 2 which deals with property taxes, and the school finance bill, House Bill 3.
“We took 100 years of policy and reformed it in a transformational way in 140 days,” Lt. Governor Patrick said.
Annie Spilman, NFIB’s state director for Texas, said the state’s small business community is grateful to Governor Abbott and House and Senate leadership for reaching an agreement on property tax reform.
“House Bill 3 is a big deal for small business,” Spilman said. “Property tax rates are a perennial problem that’s gotten worse and worse over the years. We’re at a point now where property taxes in Texas are rising faster than people’s incomes.”
The Dallas Regional Chamber congratulated the Texas legislature Thursday on the announcement.
“Today’s announcement accomplishes our top priority for this legislative session to create an equitable and sustainable school funding system,” said Dale Petroskey, President and CEO, Dallas Regional Chamber. “Every student deserves the opportunity to participate in the economic success of our state as a result of the “Texas Miracle,” and this legislature’s action will now allow for that.”
Some school leaders in Texas are still awaiting all the final details of the bills before labeling the session a success.
The session ends monday.
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