What Are “Golden Pennies” in Texas School Funding?
I’ve had a lot of conversations lately about school funding, and one term that keeps coming up is “golden pennies.” It’s confusing, so here’s a plain-English explanation using real numbers. Note: The example below is intentionally simplified and assumes no exemptions, homestead caps, or special adjustments, just to make the concept easier to follow. 🪙 First: what is a “penny”? In Texas, school tax rates are measured in pennies. Literally pennies. ...