Between 1995 – 2015, local property taxes in Texas increased by 227%, or $36.2 billion dollars. This type of growth in local property taxes is far outpacing personal income growth. Many property owners, who are unable to pay their local property taxes, are either forced to sell their home or their property is foreclosed by local taxing entities.
The 86th Texas Legislature began their legislative session on January 8, 2019, and many legislative leaders have made property tax reform a top priority. The Chairmen of the Senate Property Tax Committee and the House Ways and Means Committee both filed identical legislation to reform the property tax system. House Bill 2 (H.B. 2) and Senate Bill 2 (S.B. 2) are moving through the legislative process quickly!