I can't find a "sunset" provision in HB3, so I'm not sure what you mean. The tax rate is being capped.
There is NO limit on the amount the property can rise in terms of valuation. If you've been in Texas any length of time at all you know how that game is played. I'm still looking for the house that can be sold on the market for it's tax valuation.
In my lifetime I've had three tax decreases; Reagan, Bush II and California Prop. 13. On the other hand I've seen taxes increased everywhere you can imagine including the first sales tax in Texas of .25% which was supposted to be the last time Texas would have to raise taxes. Yes, that's 1/4%.
The increase in the sales tax (which will give us the highest in the nation and bring the sales tax close to 10% in many metro areas) will not go away or ever be lowered. The income tax will not go away or be lowered. In five to six years your property taxes will be what they are today. Pols will be whining about not having any money.
Once taxes are in placed they are as hard to remove as teeth from a hen. Certainly there are always areas where loopholes need to be removed (although curiously this same change in the payroll tax was rejected as a "job killer" in the last session).
They have put the cart before the horse. Do you doubt that you could cut the budget by 10% (I could easily do 20%)? Why didn't the republicans try that and funnel the savings to property tax reduction?
Were they afraid if they cut spending the Houston Chronicle wouldn't like them and would write harsh things about them? Were they afraid that they would lose their jobs? Huh?
We had a remarkable opportunity. We are trying to solve it with an unremarkable solution.