TEXAS — Texans would love to see lower property taxes. But eliminating them altogether, as some state leaders are pushing, seems unlikely.
This week, officials told state lawmakers Texas would need about $81.5 billion a year to end property taxes. Spending that much on tax cuts would also significantly hurt the state’s ability to pay for other costs, likely sacrificing vital state services. Lawmakers also noted it would likely require a significant sales tax hike, which has proven to be unpopular in the past.
On this week’s “Inside Out” segment, former Texas House Speaker Dennis Bonnen, R-Angleton, and former state Rep. Mark Strama, D-Austin, weighed in on the likelihood of eliminating property taxes in Texas.
Click the video link above to watch the full segment.