Governor Greg Abbott today listed property and franchise tax reduction as legislative priorities in his State of the State address. Low-tax advocates were quick to offer praise for the Governor’s call to action:

On Property Tax Reduction:
Americans for Prosperity is applauding Governor Abbott for pledging to support property tax reform here in Texas. Currently, too many hard-working families in the state are literally being taxed out of their homes and that is simply unacceptable. Lower taxes have played an essential part in Texas’ role as an economic leader in the nation. Burdening Texas families with higher taxes is not a sensible solution for our state budget. We are proud to stand alongside Governor Abbott in his effort to give taxpayers greater control over rising property tax rates.”
Jerome Greener, State Director, Americans for Prosperity-Texas

“There is a revolt brewing in Texas over soaring property tax bills that are neither realistic nor sustainable. In 2015, Texas’ 4,171 local governments walloped homeowners and businesses for more than $52 billion in property taxes, or about $1,900 for every man, woman, and child in the Lone Star State. As mammoth an amount as that is, trends suggest that the burden is likely to get heftier still, with tax levies historically outpacing standard economic measures by a wide margin. Governor Abbott’s call for structural property tax reform could not have come at a more urgent time. Texans everywhere are struggling to cope with the relentless onslaught of local property taxes, and systemic change is needed to secure needed and lasting relief.”
James Quintero, Director, Center for Local Governance-Texas Public Policy Foundation


“The Texas Association of REALTORS® applauds Gov. Abbott’s comments in his State of the State address regarding property tax reform. Bringing more transparency and honesty to the local level when tax rates are set will enable Texans to be more informed about how their tax dollars are being spent.”
Vicki Fullerton, Chairman, Texas Association of REALTORS®


On Franchise Tax Reduction:
“We are pleased with the Governor’s commitment to continue working to eliminate the franchise tax. The compliance cost plus payment makes this tax one of the most burdensome taxes Texas businesses have to contend with.”
Talmadge Heflin, Director, Center for Fiscal Policy-Texas Public Policy Foundation

“Governor Abbott's call to ultimately phase out the franchise tax is an approach that the state must continue to pursue. The franchise tax was created in 2006 to help lower property taxes and to keep the school finance system out of court, yet it has failed in both of those objectives. Texas has slipped in national rankings for tax policy and economic outlook, in part, because of it. Economic projections show that eliminating the franchise tax would produce 41,500 net new jobs, $3.4 billion in net new investment, and $9.8 billion in new personal disposable income. Eliminating the franchise tax would make Texas one of only four states without a corporate income tax or gross receipts-style business tax, which would be a boon for investment, job creation, and economic growth.”
John Colyandro, Executive Director, and Tom Aldred, Director of Policy & Research-Texas Conservative Coalition Research Institute

Comments (0)

There are no comments posted here yet

Leave your comments

  1. Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location