Texas’ Biggest Cities Scramble To Figure Out What The 2019 Legislative Session Will Cost Them
By the time the Legislature adjourned in May, lawmakers had passed bills that limit how much property tax revenues local governments can collect without voter approval, prohibit the use of revenue-generating red-light cameras and eliminate some fees telecommunications companies pay to local entities.
That’s left many local officials scrambling to calculate how much money cities will forgo in coming years as many city councils prepare their budgets for the next fiscal year.
One of the most impactful pieces of legislation is Senate Bill 2, which established that starting next year, cities, counties and other taxing units need voter approval before levying 3.5% more property tax revenue than the previous year. In May, Moody’s published a report warning that the homeowner savings would be minimal “but budgetary impact on governments would be significant.”
Learn more by clicking here