April 12, 2019      11:55 AM

Greenfield: Breaking down the numbers on the property tax sales tax swap

Economist Dr. Stuart Greenfield notes that “this policy would increase taxes for 80 percent of Texas households, reducing taxes only for those with income above $146,000”

For the last decade, conservative groups have actively campaigned to replace the state’s property tax with an increased sales tax. 

On April 10, the state’s troika announced that legislation would be introduced to ask voters to approve increasing the state’s sales tax by one percentage point to 7.25 percent.

The increase in sales tax receipts would be used to reduce local school district property taxes by a comparable amount.

The complete column by Dr. Stuart Greenfield is in the R&D Department.

By Dr. Stuart Greenfield

Copyright April 12, 2019, Harvey Kronberg, www.quorumreport.com, All rights are reserved