Overall, Texas’ tax burden is considered one of the lowest in the country. But that image is shattered when one considers the state’s effective business tax rate, based on Gross State Product, is the seventh highest rate in the nation. This policy perspective examines the harm that comes from relying on “business” taxes.
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...