Property tax reform bill goes to conference committee ”

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.

To read more please log in or subscribe to the digital edition https://etypeservices.com/Teague%20ChronicleID677/