Senate Bill 2, the Texas Property Tax Reform and Transparency Act will require cities, counties and other taxing entities to receive voter approval before levying 3.5 percent more property tax revenue than the previous year. Community Colleges, hospital districts and those entities with the lowest rates (those with tax rates of 2.5 cents per $100 valuation, or less) must receive voter approval before they can pass an 8 percent revenue growth. It also creates a disaster provisions which allows those entities in a disaster-declared area to utilize an 8 percent voter-approval rate for two years if values return to pre-disaster level, or three years if they do not return.

Read the bill in its entirety here.

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