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The Associated Press May 3, 2012, 1:03PM ET

Texas lawmakers hold hearing on property taxes

Conservative activists have told Texas lawmakers that property taxes should be abolished and that local debt is getting out of control.

Former gubernatorial candidate and tea party favorite Debra Medina called for the Legislature to replace property taxes an improved sales tax and new business taxes.

Peggy Venable from Americans for Prosperity pointed out that voters have approved more than $300 billion in debt, financed through property taxes. She said school districts and cities have manipulated voters into approving the bonds. She said taxing authorities should have to reveal its debt level when asking voters to approve new bonds.

The Texas House Ways and Means Committee met Thursday to study whether the state's taxing system is fair, transparent and achieves the state's goals of promoting business and development.

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