'In Texas, We Go Big': Governor Abbott Moves To Entirely Eliminate Property Taxes In The Lone Star State

Governor Greg Abbott (R-TX) has set a major goal for himself and his administration, saying he wishes to entirely eliminate homeowners’ property taxes within the state. The Lone Star State governor said it is possible through the increased tax revenue gained through the growing Texas economy.

Abbott made this pledge alongside Lt. Governor Dan Patrick (R-TX) and House Speaker Dade Phelan (R), saying it is a priority for lawmakers to reduce and eliminate property taxes within the state. 

In a press release for the governor, the office noted: “his property tax plan would direct $17.6 billion of Texas' historic budget surplus already appropriated by the legislature to cut property tax rates, putting money back into the pockets of hardworking Texans.”

On May 29th, Abbott called for a special legislative session to go through numerous different objectives, with a notable one being the property tax cuts. Following this session, the House and Senate each passed different versions of the bill and have been stuck at a standstill since then. 

The Texas governor made it very clear though that his intent wasn’t just to lower property taxes but instead eliminate them. Some critics have claimed that his idea isn’t feasible, but Abbott has remained adamant in his approach, saying, “Texas has the number one fastest growing economy in the United States of America. Our economy is now more than $2.3 trillion a year. We’re trying to spend $17 billion out of an economy that produces $2.3 trillion a year. That’s .007% of our whole GDP, less than one-tenth of one percent. We can do it.”

“How should we approach it? We must go big,” the third-term governor said. “We must dream big. You’ve got to dream it and then you’ve got to do it.”

"In Texas, we don't do things half-heartedly," he explained. "We go big, and we make sure we accomplish our big vision. Texans want to own their property, not rent it from the government. Under my property tax plan, we will put Texans on the pathway to eliminate property taxes.”

Abbott then explained his method, saying, “The way to do this is through compression,” which is reducing the amount of property taxes paid to school districts, which he states will initially cut property taxes by 29 percent. This approach, he added, “will put us on a pathway where in the ensuing sessions we will be able to get to zero for your property tax rate, for your school district property taxes.”

The Lone Star governor explained that other taxes contribute more notable money to the total tax revenue, pointing specifically to sales tax which he claims is Texas’ “largest source of revenue.” Abbott also pointed to the cyclical nature of the tax cut, as when homeowners spend less money on property taxes, they have more money to spend into the economy thus providing more sales tax to the state.

Abbott stated how he doesn’t know if there’s an exact way to definitely pull the plan off, but stated that it’s a risk that the state should take comparing it to when a family buys a home. “If you buy a house, you may think, ‘Well it’s a stretch for us, we may not have the income, what if we get sick or lose our job…’ People face unknowns when they buy a house. But they make a commitment. We’re going to buy this house. We’re going to find the money to pay for it. And we’ll be disciplined. We have to pay our mortgage first, and we can pay for everything else later.”

The first special legislative session will last for 30 days, but Abbott has already said he will call another session if needed to finish the legislation.

Texas seems adamant about securing its place as one of the best states in the Union, looking out for families as much as it can. California seems like it will continue on a downward spiral as other states find ways to rise.