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The bill, revised after criticism that its restrictions could exacerbate anti-Asian hate, allows U.S. citizens and lawful residents from China, Iran, North Korea, and Russia to buy homestead property. Companies and governments from these countries could not buy real property.
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The chamber will likely have to negotiate with the House over key differences in their spending plans, namely how to lower property taxes.
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Lieutenant Governor Dan Patrick and Senator Paul Bettencourt signaled potential friction with the House over the lower chamber’s proposal to use an appraisal cap to hold down property tax growth.
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State tax systems are usually looked at as a three-legged stool — property taxes, sales taxes and personal income tax. In Texas, our “stool” only has two legs.
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Texans pay some of the highest property taxes in the country, and listeners have a lot of thoughts about how that could be addressed. One unconventional idea we’ve heard: offsetting homeowners’ tax bills with revenue from legal weed. So, could that actually work?
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Texas school districts, cities and counties rely heavily on property taxes to pay for roads, libraries, police, firefighters and public schools. But lowering tax bills has long been a difficult endeavor.
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The bill would cap the increase in property tax revenues at 2.5 percent per year. Governor Greg Abbott has designated the measure an emergency item for the legislative session.
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From the campaign trail to election night victory speeches to promises in the halls of the Texas Capitol, property taxes are the top priority for...