This week identical bills were introduced in the Texas House and Senate for property tax reform.  These bills increase transparency in the property tax system, lower the maximum rate of increase from 8 to 2.5%, and generally empower property owners to take a more active role in rate setting.   I know additional legislation will soon follow.

This is a significant first step toward reforming our antiquated property tax system.  In addition to this reform, we will still need legislation that will provide true property tax relief to the citizens of Parker and Wise counties.  This relief will come through the overhaul of our school finance system and will likely be through a state buy down of local school taxes.

Committees will begin hearings next week.  We are at the beginning of the legislative session so there is a long journey ahead for discussions on school finance reform and property tax relief before any effective change. But having identical bills filed in both chambers demonstrates legislative commitment to reform.

State Representative Phil King