School Flat Tax?

Albanese, Elizabeth
January 2005
Bond Buyer;1/11/2005, Vol. 351 Issue 32047, p31
Trade Publication
The article informs that lieutenant governor David Dewhurst announced last week that the Texas Senate is close to reaching a consensus on a plan to create a flat business tax that would provide more money for public education and allow the Legislature to significantly decrease local property taxes needed for schools. The Legislature convenes for its regular biennial session. Dewhurst said the plan would allow law-makers to chop local school taxes by at least one-third. Currently, school taxes are capped at a maximum of $1:50 per $100 property valuation, and approximately half of the state's school districts are taxing at that level.


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