The Senate Committee on Property Tax has published its interim report to the 87th Legislature. The report addresses certain concerns remaining after passage of Senate Bill 2 during the 86th Session and possible next steps.
Spotlight on Recommendations
- Close the disaster loophole in Section 26.04(c-1)
- Include payments on certificates of obligation in the voter-approval rate
- Clarify the scope of the unused increment rate
- Allow taxpayers to vote on any rate increase above the no-new-revenue rate
- Simplify the tax code
- Ensure local government are efficiently using tax revenue before raising taxes
- Study the feasibility of tax cut elections
- Rate calculation worksheets must be easier to find
- Increase taxpayer feedback and transparency
- Standardize definitions
- Increase public awareness of the database of property-tax-related information
- Create an opt-In electronic notification system
- Supplemental value and large fund balances overhaul
Senators Juan “Chuy” Hinojosa and Kelly Hancock also submitted letters along with the interim report, included in the appendix. Sen. Hinojosa noted that the pandemic has deprived stakeholders of the opportunity to articulate their concerns before the Committee and that any recommendations to enhance Senate Bill2 should incorporate public input. Sen. Hancock highlights collaboration among members of the House and Senate, leadership, and stakeholders to negotiate key provisions of SB 2. For more information, please see the full interim report.