The filed House supplemental appropriations bill, HB2, would appropriate $1.4 billion from Texas’ Economic Stabilization Fund (ESF), also known as the Rainy Day Fund. However, a committee substitute for HB2 (CSHB2) was recently outlined in the House Appropriations Committee that would increase the appropriation from the ESF to $2.4 billion, which together with $957 million from general revenue (GR) and $1.8 billion from federal funds, would bring the total cost of the supplemental bill to $5.2 billion. An examination of the numbers shows that this is far too costly for taxpayers and that there is no need to use any money from the ESF.
Just the Facts: Property Taxes in Texas’ Most Populous Cities, Counties, and School Districts 4th Edition
Property taxes imposed by local governments have, in many instances, outpaced population growth and inflation. As a result, Texans pay some of the highest property taxes in the nation. Key points: Property taxes are assessed and collected by local governing bodies. The State does not levy a property tax. Local governments levied $89.4 billion in...