FOR IMMEDIATE RELEASE 01/24/2017
Representative Swanson Files HB 1050: The Texas Property Freedom
Repealing the Texas Property Tax
I, Representative Valoree Swanson, on January 17th filed House Bill 1050, The Texas Property Freedom Act, to protect the financial sustainability of property owners across the state of Texas.
This bill will repeal property taxes in Texas, also known as ad valorem taxes, on January 1, 2022. This legislation will grant a reasonable period of five years, including two future legislative sessions, for the State Legislature to pass a comprehensive replacement for the property tax.
The property tax is a financial burden on too many citizens of Texas. Those who are retired and living on fixed incomes are especially hard hit by rising property taxes. The Texas Supreme Court has urged the legislature to "choose a new path" of revenue for free public schools. The Texas Property Freedom Act will provide the legislature with a path towards a more stable future for all property owners.
I do not believe it can be denied that Texans have always valued their ability to work towards the dream of owning property. The Texas Property Freedom Act will help to restore the accessibility and feasibility of that great dream without excessive taxes by the government.