Commerce – Local business, community, and government leaders met in Commerce yesterday to discuss House Bill 1: Education Tax Reform. Quinlan Superintendent Larry Johnson was the speaker at the Hunt County Alliance for Economic Development Luncheon yesterday in Commerce. Johnson said the bill isn't just education reform; it is also a property tax break.
The Quinlan ISD has already incorporated tax provisions in the bill into next year's budget, brining in about $180,000 locally with the state matching that amount.
Johnson outlined some details of the tax plan and said the goal is to lower the tax rate by $.50 per $100 valuation with a two-year phase-in and a two year phase-out plan.