[SPECIAL REPORT UPDATE] Comptroller Updates Tax Field Guide to Include Changes From 84th Legislature

Texas Comptroller of Public Accounts sent this bulletin at 08/04/2015 09:06 AM CDT
    
A Field Guide to the Taxes of Texas: July 2015. Glenn Hegar, Texas Comptroller of Public Accounts
 
  		  
Texas Comptroller Updates Field Guide
With Legislature's Tax Changes, Repeals
      
  Graphic: 2015 Tax Actions. The Field Guide is updated to reflect tax changes by the 2015 Legislature.
   
The 84th Legislature left the Capitol two months ago, and Texas taxpayers can expect to see changes take effect very soon. See how franchise tax rate changes and the repeal of eight — yes, eight — smaller taxes alter the state’s tax system.

As a result, we've updated the Comptroller's popular Field Guide to the Taxes of Texas. This graphic-rich guide provides an overview of the history and rates of taxes that generate $50 billion in annual receipts. It also includes estimates of future revenue and allocations, and details the value of exemptions and discounts on six high-profile taxes that account for almost 90 percent of Texas tax revenue.

The tablet-friendly design links to in-depth state financial publications, offers an overview of the budget process and outlines the basics of local taxes.

Also updated in this edition, the local property tax section includes 2014 tax levies by cities, counties, schools and special purpose districts, as well as the latest rate data averages and links to the Comptroller’s Property Tax Assistance Division’s recently released tax rate and levies tables.