Texas Businesses Support Governor’s Call for Property Tax Relief Through Compression

AUSTIN (WBAP/KLIF) – More Texas business and consumer organizations are joining a letter to state leadership supporting Governor Greg Abbott’s call for property tax relief through compression during the current special session of the Texas Legislature.

With Monday’s addition, a total of 40 organizations and associations across the state of Texas have expressed support for Governor Abbott’s property tax relief call.

“We, the undersigned, support the Governor’s plan to cut school property tax rates by an additional $0.16 for a combined total of $0.26 per $100 of value,” the group of 40 organizations wrote to Governor Greg Abbott, Lieutenant Governor Dan Patrick, and House Speaker Dade Phelan. “School tax rates for M&O would drop from $0.91 in 2022 to $0.64 next year. That rate cut will save all Texas property owners — homeowners, businesses, and rental properties alike —$17.6 billion. The property taxes of an owner of a $300,000 home would be cut by $1,300 over the next two years, and that property tax reduction would continue in future years.”

The Texas Association of Business said on Monday that the Governor’s plan would offer immediate and meaningful relief for all property owners in the state. 

Texas Lt. Governor Dan Patrick is opposed to the Governor’s plan. He is calling for a Homestead exemption.

Governor Abbott addressed Patrick’s proposal on social media on Monday.

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