Texas' record-breaking surplus is now nearly $33 billion.
State Comptroller Glenn Hegar announced the updated budget surplus on Monday, the eve of the first day of the 88th Texas Legislature.
He also announced the state will have $188.2 billion in general revenue during the 2024-2025 fiscal year, a 26% increase from the last biennium. In July, Hegar had estimated the surplus to be at $27 billion. But on Tuesday he said it had grown due to inflation and higher sales tax revenues. Lt. Gov. Dan Patrick said in a statement Monday that “Texas taxpayers must first receive tax relief before we commit to any new spending.”
Lavine proposed implementing “sales price disclosure.” This would require the disclosure of real estate sales so that the correct property tax can be charged.
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