Property tax cap could limit Texas cities’ credit ratings, according to S&P

A bill under consideration at the Texas Legislature that would would cap how much cities, counties and other local governments could raise taxes each year without voter approval could in turn jeopardize those communities’ credit ratings, a major ratings agency said Wednesday.
S&P Global Inc. warned that Senate Bill 2, carried by Houston’s Sen. Paul Bettencourt, "could lead to unintended credit consequences" because it would limit the options local governments have to collect revenue.
The bill passed…

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