Texas Public Policy Foundation’s Government for the People Initiative policy director James Quintero is hoping to see state lawmakers put the needs and desires of residents first.
“The Texas Legislature has a historic opportunity to provide substantial tax relief to all Texans,” Quintero said in a recent newsletter. “The need for real relief is great too. Thanks to Washington D.C.’s reckless fiscal path and easy money environment, Texans are paying more for food, gas, and rent. It’s been a nightmare for families and the low-income. People need a helping hand, and the state legislature is in a position to give it.”
Quintero’s hope for a change in direction stems from a recent report from the Comptroller’s office that underlines almost $30 billion in surplus state funds.
With The Balance recently ranking Texas among the 10 states with the highest property tax rates in the country at a median of $4,065, Gov. Greg Abbott has already voiced his support for lowering the tax burden of residents using these funds, recently tweeting “Texas comptroller estimates $30 billion account balance by next legislative session. We must use a substantial portion of this money to cut property taxes in Texas.”
In Travis County alone, data from tax-rates.org shows the average 2022 property tax bill for residents stands at $3,972.
Overall, Tax-Rates.org reports the state now has one of the highest average property tax rates in the country, with only 13 states levying higher rates. With the state’s median income at $62,353 per year, Texas is ranked 12th in the country for property taxes as a percentage of median income.
