LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATURE 2nd CALLED SESSION - 2005

August 4, 2005

TO:	Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	SJR9 by Ogden (Proposing a constitutional amendment authorizing a uniform statewide property tax for public education, abolishing school district property taxes for maintenance purposes, and authorizing a limited school district property tax for educational enrichment if approved by the voters of the district.), As Introduced

No fiscal implication to the State is anticipated, other than the cost of publication.

The cost to the state for publication of the resolution is $66,497.

The joint resolution would allow the legislature by general law to impose a state property tax at a rate not to exceed $1.00 for each $100 of taxable value. The rate would be established for each year of a biennium. After the 2006-07 biennium, the legislature would have to impose a tax rate that when applied to the tax base, less new property value as established by law, would not yield a levy that exceeded 105 percent of the levy imposed on the previous biennium.

 

The legislature may provide for the appraisal of property subject to the state property tax, for the equalization of taxable values of property subject to the state property tax, and for the collection of state property taxes.  Further, the legislature may require a school district to use certain revenues for property tax relief in residence homesteads.

 

The legislature may provide that school districts be eligible to impose an enrichment tax not to exceed 15 cents per each $100 of taxable value.

 

In and of itself this resolution would not have a fiscal impact without statutory language imposing a state property tax.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts, 701 Central Education Agency

LBB Staff:

JOB, SD, WP, SJS