A sound tax system is simple to understand, not overly costly to implement, and minimizes economic distortions. Compared to other states, Texas’ current tax system can be improved by repealing property taxes and replacing the revenues with a reformed sales tax.
Kudos, Tarrant County
Fiscal conservatism is alive-and-well in Texas’ 3rd largest county. As evidence, consider that Tarrant County officials last year approved a tax rate below the no-new-revenue (NNR) tax rate, resulting in an astonishing “13.17 percent” rate reduction. As impressive as that was though, county leaders took things one step further by creating a 10% local option...