As the rising cost of living around the country becomes the main topic of discussion, many politicians are searching for ways to ease the pain for their constituents. This week, Gov. Greg Abbott tweeted his support for a measure that would decrease property taxes in Texas.
"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," Abbott tweeted.
Abbott has supported measures in the past that would decrease property taxes for Texans, an issue that citizens in Texas are extremely concerned about.
According to a spokesperson for Abbott, the governor has been in favor of taking significant steps toward decreasing property taxes around the state, the Austin Journal reported.
“He strongly supports using the state surplus to reduce the amount of property taxes owed and will work with the Legislature in the next session to do it in an efficient way that will ensure it endures for years to come, rather than as a one-time buy down. And under his Taxpayer Bill of Rights, Gov. Abbott will continue working to deliver substantial and lasting property tax cuts,” the spokesperson said.
Abbott has made it clear that using the surplus is the most realistic path to accomplishing the goal of lowering property tax costs. He said that it would eliminate the Maintenance and Operations portion of the property taxes that Texans pay.
"This has to be done in a way so mathematically it can be calculated so if we put in a billion or five billion whatever, it will be enduring for every year into the future,” Abbott said, KPRC Click2Houston reported.
The plan seems to be supported by the Texas Public Policy Foundation, which has proposed a plan that would completely do away with the school M&O rate by using the surplus that the state has built up to buy down bills. This would ensure that schools are still funded while also decreasing tax burden on taxpayers, the Austin Journal reported.