Business Leaders Praise Governor Abbott’s Property Tax Cut Plan
Leading statewide business associations today shared their overwhelming support for Governor Greg Abbott's property tax cut plan announced in the special session #1 agenda that would rein in property taxes for all Texans by driving down property tax rates.
Texas Oil & Gas Association President Todd Staples: “We appreciate Governor Abbott’s commitment to drive down school property tax rates. Broad rate compression of the property tax rate benefits all taxpayers in a uniform manner, and every single taxpayer will be a winner. We thank the Senate and House for their commitment to meaningful tax relief and hope they will take swift action to drive down these rates through compression, as this is an equitable and effective means to deliver relief.”
Texas Association of Manufacturers President & CEO Tony Bennett: “The legislature will meet later today for the first called session of the 88th Legislature. Manufacturers have long favored rate compression as the most equitable way to lower property taxes for all Texans. While legislators proposed many ideas to help Texas taxpayers in the 88th Regular Session, TAM encourages both chambers to enact rate compression in the first called session, a move that will provide help to all taxpayers equally, and in proportion to their share of the burden.”
Texas Chemical Council President & CEO Hector Rivero: “We commend Governor Abbott for his commitment to provide meaningful tax relief to all Texans. Rate compression of the property tax rate is equitable for all taxpayers and encourages the state to remain competitive. Texas has the sixth-highest property tax rate in the United States on industrial property. Rate compression is a fair and effective way to ensure that everyone—from homeowners to businesses—receive meaningful tax relief, keeping Texas the best state to live and work."
Texas Association of Business President & CEO Glenn Hamer: “[The Texas Association of Business] fully supports Governor Abbott’s call for property tax relief. Rate compression ensures everyone wins and is treated equally, from businesses to homeowners. This is another example as to why Governor Abbott is the most business-friendly governor in the country.”
Texas Apartment Association: "Property taxes are a rental housing provider's largest operating expense. We applaud Governor Abbott's plan to provide meaningful tax reform that benefits all taxpayers and achieves balanced relief that is fair for all Texans. We look forward to working with the Texas Legislature to get this done."
Yesterday, Governor Abbott announced the special session #1 agenda, including directing property tax reduction dollars to cut school property tax rates as the best method to eliminate property taxes.