Texas’ local property tax is big and fast-growing. In fiscal 2013, local governments received in excess of $45 billion in property tax revenue, making it the single largest tax imposed in the Lone Star State. Of the total levy, school district taxes represented more than half of the overall burden, at $24.9 billion. The number of taxing jurisdictions levying a property tax grew to more than 4,000 statewide, an increase of 10.6% compared to a decade prior.
Taxes & Spending
Bigger in Texas: Sizing Up the State’s Finances
Every even-numbered year, the state’s Legislative Budget Board (LBB) publishes a helpful, user-friendly summation of the General Appropriations Act (GAA), otherwise known as the state’s two-year budget. On Wednesday, the LBB published the next iteration—its 2024-25 Fiscal Size-Up. From a 30,000 ft. level, this new report provides “a comprehensive review of how tax dollars were...
August 2, 2024