North Texas Business Leaders Support Legislative Plan to Boost School Spending, Cut Property Taxes

Gov. Greg Abbott identified back in January property tax reform and school finance reform as emergency items, thankfully. Members of the North Texas Commission hope to see legislators solve these problems by boosting the state's contribution for public education and pay for full-day prekindergarten while addressing rising property taxes. Our members support House Bill 3 to address these concerns.The primary drivers of property tax increases are school property taxes. Many Texans are unaware that under the Robin Hood school funding formula, as local property values rise, the state's share of funding declines and the burden on local taxpayers increases.The state has actually spent more money on education each year, but state portion of the amount spent to educate the students in Texas has dropped from 47 percent in 2011 to 36 percent in 2019.Local education tax money sent to the state to be used for public education is often used to fill other budget shortfalls and fund other programs. The state has taken billions of dollars out of the public education system over the last decade. As the populations grows, that harms schoolchildren and burdens local taxpayers. It is time for Texas to take responsibility and direct new money and a dedicated stream of revenue to ensure Texas has an educated workforce.  Continue reading...