The Biennial Revenue Estimate
that Comptroller Glenn Hegar released states that recapture is expected to reach nearly $5 billion during Fiscal Year 2023. Recapture is the mechanism through which the state removes some revenue from districts with relatively high levels of property wealth. Before this year, recapture had never exceeded $3 billion in a single year.
Following the Comptroller’s announcement, Texas School Coalition Executive Director Christy Rome released the following statement:
“Robin Hood recapture, which until this year had never before exceeded $3 billion statewide, is now projected to reach $5 billion in the current fiscal year, according to the latest figures from the Comptroller. This is an enormous burden on schools and taxpayers that Texas elected leaders have ignored for far too long. The State of Texas is taking billions of dollars per year away from Texas school districts and padding the state surplus with those dollars. These are all symptoms of a larger problem — the state is relying too heavily on local property taxes, rather than state revenue, to fund public education. Significant state investments in public education will restore balance to the system, help ease the burden of recapture and, most importantly, allow school districts to better meet students’ needs.”