Today, the Texas Public Policy Foundation welcomed Gov. Abbott’s proposal to lower property taxes across the state, a critical reform that will provide much needed relief from one of the highest burdens in the country. “I strongly support using the state surplus to reduce the amount of property taxes owed,” Gov. Abbott told the Houston TV station KPRC. By using surplus state funds to lower school district M&O property taxes, Texans can experience lower property tax bills, while keeping all public schools fully funded.
“Local property taxes are too high and growing too fast in Texas. I applaud Governor Abbott’s proposal today to help mitigate this challenge that’s at the top of the minds of homeowners, renters, and businesses across the state,” said Vance Ginn, Chief Economist at TPPF. “By returning most if not all of the surplus dollars to taxpayers through lowering school district M&O property taxes, Texans can pay lower property tax bills now until they are eliminated in a timely manner. The Foundation has the Lower Taxes, Better Texas plan to help achieve this by 2033.”
“Texans today are struggling to afford food, gas, and rent. It’s unfair to burden them with higher taxes too. State and local leaders must do their part to ease the pressure,” said James Quintero, policy director for TPPF’s Government for the People initiative. “Now is the time for big, bold changes that reduce tax bills and reform how the property tax system works. We cannot delay.”
To read the full TPPF plan to lower taxes, please go here.