Texas Gov. Greg Abbott has pledged to use half of the state’s projected $27 billion surplus to reduce property taxes. Gov. Abbott made the pledge after conservatives called for the historic surplus to be used to provide property tax relief.
“Texas is sitting on a record budget surplus of $27 billion…,” Gov. Abbott tweeted. “Because this is your money, I want to return at least HALF of that money to you with the largest property tax cut ever in the history of Texas.”
“If this happens, it’d make for the largest property tax cut in Texas history,” the Texas Public Policy Foundation reports. “The news is sure to be welcomed by struggling taxpayers. Homeowners and businesses today are battling sky-high inflation, soaring property values and greedy governments, with little sign of relief outside of the governor’s announcement.”