The House began debate on its version of the biennial Texas budget Wednesday with hours of amendments to consider – there were 307 filed I believe. More interestingly at this point is that word was put out Wednesday morning that Ways and Means Committee Chairman Dustin Burrows was said to be planning to consider amendments to HB 2, the property tax reform bill, after the House concluded its marathon session on the budget.
After almost two weeks of reports of solid, meaningful property tax reform being “stalled,” we learned on Tuesday that a draft of a new version of HB 2 properly includes more local governments.
Reports are that the new version would exempt hospital, community college, and emergency services districts while now including other smaller local governments which had been exempted in the original version of the bill.
One report said the new HB 2 would include all local governments. Those under $3.125 million would have a higher ratification trigger of 8 percent with a sliding scale for larger revenue governments topping out with all with $10 million or more in revenue having the much needed 2.5 percent tax ratification election trigger threshold.
Despite what some falsely claim, the 2.5 percent figure is not a cap, or limit, on the amount of new revenue local government can raise from existing, previously taxed, property but simply a trigger for calling an election that allows the voters, for whom that government was formed to serve, the opportunity to approve or disapprove of a tax increase greater than 2.5 percent.
New version of property tax reform? Reps need to hear from you now.
After almost two weeks of reports of solid, meaningful property tax reform being “stalled,” we learned on Tuesday that a draft of a new version of HB 2 properly includes more local governments.
Reports are that the new version would exempt hospital, community college, and emergency services districts while now including other smaller local governments which had been exempted in the original version of the bill.
HB 2 and the senate version SB 2 need to get moving and get passed. To make that happen, you need to be contacting your representatives and senators and urging passage now.
One report said the new HB 2 would include all local governments. Those under $3.125 million would have a higher ratification trigger of 8 percent with a sliding scale for larger revenue governments topping out with all with $10 million or more in revenue having the much needed 2.5 percent tax ratification election trigger threshold.
Despite what some falsely claim, the 2.5 percent figure is not a cap, or limit, on the amount of new revenue local government can raise from existing, previously taxed, property but simply a trigger for calling an election that allows the voters, for whom that government was formed to serve, the opportunity to approve or disapprove of a tax increase greater than 2.5 percent.
HB 2 and the senate version SB 2 need to get moving and get passed. To make that happen, you need to be contacting your representatives and senators and urging passage now.
UPDATE: Ways and Means advances HB2 on a vote of 8 to 3, more
More: Updated property tax reform proposal surfaces in the Texas House