Texas would cut its sales tax haul by 8%, starting Oct. 1, under a new proposal to cut the sales tax rate by a half cent by a bipartisan duo of North Texas...
on school property taxes to $70,000 — doesn’t help owners of business and commercial property, he said.
Asked to assess the prospects of Senate passage of the bill, which he filed Feb. 17, West noted he landed Hall, one of the chamber’s staunchest conservatives, as co-author on Wednesday.“I am feverishly working to get other co-sponsors, to get the Democrats,” West said. “I’m trying to get other Republicans and make sure I can get the leadership at ease, if you will, about this method of tax relief.
“Even with what they’ve set aside for property tax relief, they still have $42 billion yet to obligate,” Craymer said. “So there’s plenty of money to do both property tax and sales tax.”Business, which pays an estimated 60% of all property taxes in Texas, prefers a rate reduction to enlargement of homestead exemptions.
“The Senate and House are all freaking out over the spending limit, because the money they have to appropriate for property tax relief really counts against the spending limit,” he said. “The 60% of households with incomes under $100,000 would come out ahead, and the next highest income group would essentially break even,” if sales tax is cut, as opposed to property tax, he said.
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