By Renee Yan
State lawmakers are proposing a 2.5 percent cap on property tax revenue growth with identical bills filed in both legislative chambers.
Senate Bill 2 and House Bill 2 would require local governments to obtain voter approval in order to collect more than 2.5 percent in additional revenue on existing property compared with the previous year, according to The Texas Tribune, Community Impact Newspaper‘s reporting partner.
The proposed revenue cap would affect cities, counties and school districts. Currently, the law allows them to collect up to 8 percent in additional tax revenue without voter approval.
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