Tara Ross over at Dallasblog.com thinks the school finance problem is easy to solve. She cites numbers from Tim Dunn of the Texas Public Policy Foundation:
…the Texas sales tax-based system has been collecting revenues at a rate that is two percent higher than the state’s combined rate of growth in population and inflation. If we were to restrain the growth of government spending to the increase in population plus inflation, we could use this extra two percent of revenues to buy down the property tax rate.
According to Dunn, we could eliminate the M&O property tax completely in about 15 years.