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Tuesday, November 5, 2024

Taxes News

Taxes

Gov. Abbott: 'Today, I am signing a law that will ensure more than $18 billion in property tax cuts—the largest property tax cut in Texas history'

Gov. Greg Abbott ceremonially signed legislation enacting an $18 billion property tax cut, the largest in Texas history, passed during Special Session #2 of the 88th Legislature on Aug. 9. The signing took place in New Caney, attended by Lt. Gov. Dan Patrick, Speaker Dade Phelan, Sen. Paul Bettencourt, Rep. Morgan Meyer, and other legislators.

By Andy Nghiem | Aug 17, 2023

Taxes

Beckley says business tax abatements 'make it harder for Texans'

State Rep. Michele Beckley said the extension by the Legislature on May 11 of the Texas Economic Development Act – giving large businesses a tax break on the value of their properties so they don’t have to contribute to schools – is wrong.

By John Sammon | May 14, 2021

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Taxes

Cason introduces legislation to stop tax breaks for renewable energy

By Andy Nghiem | Mar 16, 2021

Rep. Jeff Cason (R-District 92) recently introduced House Bill 2084, the End Tax Abatements for Renewable Energy Act, which would stop Chapter 313 tax breaks for renewable energy companies.

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Taxes

Energy Alliance director says Chapter 313 tax abatements have 'multiple problems generally when it comes to renewable energy'

By Juliette Fairley | Feb 4, 2021

Although Chapter 313 tax abatements are under scrutiny for how they dole out taxpayer dollars to renewable energy projects that could otherwise be economically unviable, Texas state Rep. J.M. Lozano (R-Kingsville) and Sen. Beverly Powell (D-Fort Worth) have introduced legislation that would extend the program.

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Taxes

Alter receives donations from real estate industry, lobbyists as City Council proceeds with convention center expansion

By Elle Johnson | Oct 9, 2020

An analysis for donations to Austin City Council members reveals that real estate and construction industries have donated a significant amount of funds.

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Taxes

Report: Austin billionaire who covered student loans at Morehouse under investigation for alleged tax crimes

By David Beasley | Sep 4, 2020

An Austin billionaire who paid off student loans for an entire graduating class at Morehouse College in Atlanta is under investigation for possible tax crimes, Bloomberg News reported.

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Taxes

Austin officials propose 25% property tax hike

By Andy Nghiem | Aug 8, 2020

City of Austin officials are proposing to increase property taxes for the 2020 tax year.

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Taxes

Former Austin city councilwoman believes new tax law will bring relief to residents

By Chris Lang | Feb 19, 2020

A former Austin city councilwoman likened a new Texas property tax law to a household budget that most responsible homeowners learn to manage at some point in their lives.

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Taxes

'Abundant fat' in Austin budget, tax analyst says as city deals with property tax laws

By Chris Lang | Feb 18, 2020

A new law that prevents property taxes from increasing more than 3.5 percent without voter approval may force municipalities to make tough decisions to fund their budgets.