Ahead of the 88th Legislature’s return to Austin, small businesses are calling for tax relief
AUSTIN (January 3, 2023) – “As state lawmakers prepare to return to Austin for the start of the legislative session, property taxes have taken center stage,” NFIB State Director Annie Spilman wrote in an op-ed for the Dallas Morning News. “With prices continuing to rise and a recession on the horizon, there’s simply too much at stake not to act. It’s time to cut the business property tax.”
CLICK HERE to read the full op-ed. Excerpts are below.
“The phrase ‘Don’t California my Texas’ has become its own anthem here in the Lone Star State. […] But our state’s inventory tax would make even the California legislature blush. In fact, Texas is one of only nine states to tax inventory, outranking the Golden State in business property tax rates.
“What does that mean practically? […] That means the owner at your local bakery shop pays a tax on her stand mixers, measuring cups and flour. At the salon, your hairstylist’s chair, shears and shampoos are taxed. And the locally owned furniture store down the street? Everything from the delivery equipment to fabric samples are taxed too. […]
“This week, as state lawmakers prepare to return to Austin for the start of the legislative session, property taxes have taken center stage. Gov. Greg Abbott is to be commended for his support for tax relief. His proposal to exempt the first $100,000 of business personal property tax is an excellent starting point for debate.
“Allowing job creators to keep more of their hard-earned money, invest in their workers, and expand their operation will not only stabilize our recovery but also promote Texas’s economic growth. […] With prices continuing to rise and a recession on the horizon, there’s simply too much at stake not to act. It’s time to cut the business property tax.”
CLICK HERE to read the full op-ed.
