Texas HB4968 allows certain large counties to substitute a sales and use tax for property taxes.

Texas HB4968 introduces a new chapter in the Tax Code allowing specific counties to substitute a sales and use tax for property taxes. This applies to counties with a population of 2.1 million or more, containing at least two municipalities each with a population of 350,000 or more. The sales and use tax rate is set at one percent. Counties can adopt or abolish this tax through an election, with the tax taking effect on the next January 1 after the election results are confirmed. The revenue from this tax is considered additional sales and use tax revenue.

Texas HB4968 allows certain large counties to substitute a sales and use tax for property taxes.

Texas HB4968 introduces a new chapter in the Tax Code allowing specific counties to substitute a sales and use tax for property taxes. This applies to counties with a population of 2.1 million or more, containing at least two municipalities each with a population of 350,000 or more. The sales and use tax rate is set at one percent. Counties can adopt or abolish this tax through an election, with the tax taking effect on the next January 1 after the election results are confirmed. The revenue from this tax is considered additional sales and use tax revenue.