Texas HB107 provides ad valorem tax relief using surplus revenue and limits tax rates based on inflation and population growth.

Texas HB107 amends the Local Government Code to allow counties and municipalities to use surplus revenue for ad valorem tax relief. The bill also adds a new section to the Tax Code, limiting the tax rate based on the previous fiscal year's revenue, population growth, and inflation. The comptroller must determine the inflation rate by July 1 and publish it in the Texas Register. The bill takes effect immediately if passed by a two-thirds vote or on the 91st day after the legislative session if not.

Texas HB107 provides ad valorem tax relief using surplus revenue and limits tax rates based on inflation and population growth.

Texas HB107 amends the Local Government Code to allow counties and municipalities to use surplus revenue for ad valorem tax relief. The bill also adds a new section to the Tax Code, limiting the tax rate based on the previous fiscal year's revenue, population growth, and inflation. The comptroller must determine the inflation rate by July 1 and publish it in the Texas Register. The bill takes effect immediately if passed by a two-thirds vote or on the 91st day after the legislative session if not.