TEXAS – Top State Leaders Have Agreed To Raise Sales Tax To Decrease Property Taxes

According to the Texas Comptroller’s Office, sales tax revenue has declined five times over the last 10 years. The office also notes that sales tax is more volatile than property taxes — between 1997 and 2017, the annual change in property values ranged from -1.7% to 11.7%, while that of sales taxes varied more broadly, from -6.6% to 12.5%. Sales tax has made up on average 60.5 percent of all state tax collections.