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Texas homeowners have complained about rising property tax for years 鈥 and leaders in the Texas legislature say addressing property taxes is a top priority. But since this revenue accounts for a huge chunk of Texas public school funding, parents and educators are wondering how changes could affect schools.
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State tax systems are usually looked at as a three-legged stool 鈥 property taxes, sales taxes and personal income tax. In Texas, our 鈥渟tool鈥 only has two legs.
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With a historic state budget surplus of $32 billion, lawmakers have earmarked $15 billion to ease property tax bills.
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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鈥檝e heard: offsetting homeowners鈥 tax bills with revenue from legal weed. So, could that actually work?