January 10, 2019 — Austin
Texas REALTORS® commended state leaders today for uniting to reform the property tax system and the school finance system during the 86th Texas Legislature.
“We applaud Gov. Greg Abbott, Lt. Gov. Dan Patrick, and Speaker Dennis Bonnen for making school finance reform and property tax reform top priorities during the 2019 legislative session,” said Texas REALTORS® 2019 Chairman Tray Bates.
“Our state’s long-term economic viability depends on a strong school system to produce a trained and trainable workforce to carry on the Texas Miracle and contribute to the economy as homeowners,” he said.
However, data from the U.S. Census Bureau shows that homeownership levels statewide are decreasing as Texans’ property taxes increase.
According to the Texas Comptroller’s most recent Biennial Property Tax Report, the total property tax levy statewide increased more than $3.3 billion from 2016 to 2017. The Comptroller’s report also shows that more than 54% of property taxes paid statewide are levied by school districts.
“Texas REALTORS® know firsthand the important relationship between homeownership and schools. Homebuyers consider the quality of a community’s schools when deciding where to put down their roots, and our tax dollars fund those schools. But the current systems are flawed and need reform to ensure we have sustainable property-ownership throughout Texas.”
“These have been our association’s priority issues for years as the leading advocates for Texas property owners, and we are ready to work with the Legislature and the Governor to accomplish these goals,” Bates said.
Visit TexasRealEstate.com/issues to see the complete Texas REALTORS® Legislative Priorities for the 86th Texas Legislature.