Some Texas Republican leaders have vowed to get rid of the property taxes that homeowners pay to their local public school districts, and lawmakers are analyzing how much it would cost to do so.
The big picture: Texas school districts collect about $29 billion per year in maintenance and operations taxes, which cover schools' daily expenses.
Of that $29 billion in school tax revenue, the state comptroller's office estimates that about $8.6 billion is paid by homeowners, and the rest comes from commercial and industrial property taxes.
This means the state would need to spend at least $8.6 billion annually to zero out homeowners' school property tax bills, officials said.
Quote of note: "Broadly speaking, you have a question about how much you want to fund schools, and then separately, where does that money come from?" Texas Education Commissioner Mike Morath said during a Sept. 15 legislative hearing. "If you have a target of how much you want to spend, you need to make sure you have enough variable revenue sources to reach that."