Austin (WBAP/KLIF) – A bill that would cap property taxes is on its way to the full senate in Austin. Yesterday, the state property tax committee voted to advance the bill that would cap tax revenue for local governments at 2.5%. Any increase above that would automatically trigger a special election and would have to be approved by voters. Right now the cap is 8%. Supporters of the measure says it would give homeowners relief from skyrocketing property taxes. Opponents says it would unfairly restrict local operating budgets.
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