Not-So-Super Tax Day Special Edition
What to know: It’s April 15, Tax Day—and the IRS wants its money.
The TPPF take: Here in Texas, we’ve just enjoyed a massive tax cut—to our property taxes. And we could soon see further relief.
“The Legislature did tremendous work last session, battling through some seriously contentious debates, to pass the largest property tax cut in Texas history,” says TPPF’s Brian Phillips. “In fact, Gov. Greg Abbott told the audience at TPPF’s Texas Policy Summit recently that further cuts will be on the agenda next year.”
For more on property tax cuts, click here.
More Money
What to know: Many public school districts are eyeing massive new debts in May. For instance, Mansfield ISD is asking voters to approve 5 bonds worth $777 million (principal only), which would effectively double its existing debt.
The TPPF take: There is no such thing as a free lunch. Servicing new debt requires paying new taxes.
“There is a cost to school district borrowing. Residents generally bear that cost in the form of higher property taxes. Those new taxes go toward paying back any money borrowed by the government plus interest,” says TPPF’s James Quintero. “Despite what a school district might say, new debt usually means accepting new taxes.”
For more on school bond elections, click here.
Second Chance Month
What to know: All over the country, communities are recognizing Second Chance Month, which celebrates the success of efforts to end recidivism and to restore families.
The TPPF take: Second chances make communities safer and our workforce stronger.
“This month is a reminder of the importance of removing barriers while we continue to advance evidence-based policies that can safely lower our high imprisonment rates,” says TPPF’s Scott Peyton. “That’s why we must advocate for smart policies that do both.”