Property tax credit increase in state budget

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By Jack Bowe

Created:

Updated: Tue, 11 Mar 2014 05:28:01 CST

A legislative compromise today in a state budget proposal that increases property tax relief.

Lawmakers gave first round approval to increase property tax credits by 25 million dollars. A more generous tax credit increase of 45 million was rejected yesterday.

The property tax credit program provides a state funded discount on local property tax bills. The increase approved today would hike the tax credit fund to 140 million dollars.

The tax credit increase would be added to the state 7.8 billion dollar budget.

Opponents argued that the credit increase would come at the expense of other spending priorities.