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Texas homeowners have complained about rising property tax for years — and leaders in the Texas legislature say addressing property taxes is a top priority. But since this revenue accounts for a huge chunk of Texas public school funding, parents and educators are wondering how changes could affect schools.
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State tax systems are usually looked at as a three-legged stool — property taxes, sales taxes and personal income tax. In Texas, our “stool” only has two legs.
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With a historic state budget surplus of $32 billion, lawmakers have earmarked $15 billion to ease property tax bills.
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Texans pay some of the highest property taxes in the country, and listeners have a lot of thoughts about how that could be addressed. One unconventional idea we’ve heard: offsetting homeowners’ tax bills with revenue from legal weed. So, could that actually work?