A letter from NFIB/Texas Executive Director Will Newton
Greetings NFIB/Texas friends and family,
While the Texas Legislature is currently not in session the legislative process is fully functioning and preparing for the 86th Legislature set to begin in January 2019. As you may know, the state legislature only meets in regular session for 140 days every odd year making the interims between the sessions very important to the process. After each session the presiding officers in the House of Representatives (House Speaker) and Senate (Lieutenant Governor) issue “interim charges” to each standing committee in both chambers. These interim charges are directives for each committee to study certain public policy issues and recommend actions to address them.
On Tuesday, February 20, the Senate Finance Committee will focus their attention on property tax on business personal property. The charge reads as follows:
Evaluate the property tax as it applies to business personal property and the current $500 exemption. Quantify the economic effect of taxing business personal property and determine whether the tax places Texas at a competitive disadvantage relative to other states. Evaluate the burden on taxpayers and local governments of administering the property tax on business personal property and determine whether the current $500 exemption should be increased.
Obviously, property tax on your business personal property is a large cost to many of your businesses. We would like to hear from you on how best the state of Texas can address this issue and make this tax a little less burdensome and onerous to your operations. Further, if the government can find savings for you how would you invest that savings? Raises for employees? Inventory investments? Equipment upgrades? Etc.?
Let me know your story at your earliest convenience so that NFIB/Texas can better serve you and the interests of the Texas small business community.
NFIB/Texas Executive Director