Recently, Texas Governor Greg Abbott committed that Texans “can expect a very large property tax cut coming out of this next legislative session.” His remarks were made in relation to a forecasted record cash available for the next biennium, with some estimates suggesting it may reach $30 billion or more.
“We appreciate how Governor Abbott is making property tax cuts a priority for Texans,” said TPPF Chief Economist Vance Ginn. “There is a historic opportunity to substantially lower property tax bills while funding core services next session if state and local governments practice fiscal prudence and use surplus funds to reduce M&O property taxes. This will make taxpayers a priority given the affordability crisis affecting Texans from irresponsible progressive policies by the federal and many local governments.”
“Governor Abbott is right to call for a very large tax cut next session,” said Government for the People campaign Policy Direcotr James Quintero. “Family budgets are under pressure like never before thanks to Washington D.C. central planners and spenders. In fact, some analysts suggest the average American is ‘shelling out an extra $460 a month because of the hottest inflation in decades.’ Texans need help, and state and local governments can deliver by cutting taxes and shrinking the cost of government.”