More Prosperous Texas

Texas offers unparalleled economic freedom and opportunity, including:

• No state income tax
• A stable, predictable regulatory environment
• A skilled, young, diverse, and growing workforce

Under Governor Abbott’s steadfast leadership, Texas is shattering record after record as the best place to live, work, and raise a family:

• #1 for the most new jobs, with over 2.5 million jobs added since 2015
• Named Best State for Business for a historic 21 years in a row by America’s CEOs
• #1 for corporate relocation and expansion projects, winning the Governor's Cup for a record-breaking 13 years in a row
• Named the state with the Best Business Climate in the nation

Property Tax Relief 

Since taking office in 2015, Governor Greg Abbott has worked with the Texas Legislature to pass significant property tax reforms, including: 

• Provided over $100 billion for property tax relief
• Provided a tax rate compression framework for school district maintenance & operation (M&O) tax rates
• Delivered meaningful relief to homeowners by enabling voters to approve increases to the homestead exemption
• Provided relief to businesses large and small by enabling voters to increase the Business Personal Property exemption to $2,500

Yet, many Texans have not felt property tax relief because local taxing authorities hiked their property taxes even more. Governor Abbott declared property tax relief as an emergency item to further secure property tax relief. During the 89th Regular Legislative Session, the Governor worked with the Texas Legislature to provide lasting property tax relief for Texans by: 

• Providing over $10 billion in new funding for property tax relief
• Increasing the homestead exemption for homeowners to $140,000—an almost 1,000% increase since 2015— and senior citizens and disabled Texas homeowners to $200,000
• Increasing the business personal property tax exemption from $2,500 to $125,000 to support small businesses
• Making the veteran-owned business franchise tax exemption permanent

Economic Development

Texas is the blueprint for America’s future. Under Governor Abbott’s leadership, Texas is a national economic leader:

• #1 exporting state for 23 years in a row
• #1 for technology and innovation
• #1 for the semiconductors that power cell phones, computers, cars, and more
• Solidifying our state as the financial capital of America, with the creation of the Texas Stock Exchange, the New York Stock Exchange launch of NYSE Texas, and Nasdaq creating a new regional headquarters in Dallas

Governor Abbott worked with the Texas Legislature during the 88th Legislative Session to ensure the Texas economy continues to grow and lead the nation. The Governor signed new laws to help keep Texas the best state for business, including:

• Established new specialized courts to address business issues
• Enacted protections for businesses against burdensome, patchwork regulations
• Expanded economic development incentives to spur job creation and attract even more investments in Texas

To ensure that prosperity continues to reach every Texas family and business, Governor Abbott

• Establishing the Texas Regulatory Efficiency Office, also known as “Texas DOGE,” to make state government more efficient and less intrusive in the daily lives of Texans
• Providing business decision makers the certainty that business decisions will be made by the elected officers and shareholders, not unelected judges
• Creating a franchise tax exemption for stock exchanges operating in Texas for certain tax liabilities
• Prohibiting municipalities from inflicting unnecessary regulations on home-based small businesses
• Reducing business personal property taxes for business owners 
• Expanding economic development incentives to spur job creation and attract even more investments in Texas