Texas Gov Abbott aims to eliminate property taxes: ‘we must dream big’
Sarah Carter
Three Texas Republican leaders, Governor Greg Abbott, Lieutenant Governor Dan Patrick and Speaker Dade Phelan say they have made reducing property taxes towards elimination is a legislative priority.
They say it is possible, thanks to the significant economic growth the states has experienced. On Friday, Abbott reiterated to state representatives that the end goal isn’t just to reduce property taxes, but to eliminate them.
“How should we approach it? We must go big,” Abbot said, after having “called a special legislative session directing the legislature to pass a property tax relief bill solely through compression, on Tuesday, the Senate and House passed separate and different bills and remain at a standstill” reports Just The News. “We must dream big. You’ve got to dream it and then you’ve got to do it” he added.
“In Texas, we don’t do things half-heartedly,” he said. “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.”
The three leaders also all agreed to dedicate roughly half of the $33 billion surplus, $17 billion, to provide property tax relief. The money is already appropriated, Abbott said. “Now we just need to decide how we are going to cut those property taxes.”
Abbott’s response to critics who said his approach isn’t feasible, is that it in fact is doable: “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.”
