DALLAS (WBAP/KLIF News) — Governor Greg Abbott explained a three-pronged approach to his plan on reducing sales taxes in the short and long term.
Speaking on the Chris Salcedo Show on WBAP, Abbott the three steps are: reforming the appraisal system, reducing the property tax rate, and closing “back doors” that local tax authorities can use to raise taxes even after they are capped.
“If we were to dedicate a penny toward sales taxes, we could reduce your property taxes in the first year by more than 15 percent,” Abbott told the Chris Salcedo show. “And, the property tax rate would go down every year after that.”
The Governor reiterated his stance on increasing the sales tax statewide by one percent and said he understands the shock value of people reacting to a tax raise.
He insists, however, that it will benefit Texans and homeowners in the long run.
“If we increase the sales tax, we will get well over half a billion dollars a year from people coming and visiting the state of Texas for conventions, business, fun, whatever it may be,” Abbott said. “They will be paying sales taxes to help us reduce our property taxes.”
To hear the entire interview between Salcedo and Governor Abbott, click here.
