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Senate Bill 2

By May 31, 2019October 4th, 2021No Comments

On May 27, 2019, the final version of Senate Bill 2, the Texas Property Tax Reform and Transparency Act of 2019, was signed by the House and Senate. S.B. 2 addresses the rate of growth of local property taxes and transparency of property tax revenue. Among its many provisions, the bill requires cities and counties to get permission from voters to raise property taxes over the previous year more than 3.5 percent. While this bill has garnered a lot of attention this session, it will likely provide little tax relief for most property owners, because it does not affect the appraised value placed on the property by the appraisal district, which plays a significant role in determining the property owner’s tax bill. S.B. 2 was sent to Governor Abbott on May 28, and he has until Sunday, June 16 to sign or veto the bill; however, if the bill goes unsigned, it will become a law. Governor Abbott has been outspoken about his support of property tax reform in the current legislative session, so there is little doubt that S.B. 2 will pass on June 16.