34 Business Organizations Support Gov. Abbott’s Call For Property Tax Relief Through Compression

Austin, TX — Today, 34 business organizations and associations sent a letter to state leadership supporting Governor Greg Abbott’s call for property tax relief through compression during the current special session of the Texas Legislature.

“We, the undersigned, support the Governor’s plan to cut school property tax rates by an additional $0.16 for a combined total of $0.26 per $100 of value,” the group wrote to Governor Greg Abbott, Lieutenant Governor Dan Patrick, and House Speaker Dade Phelan.

“School tax rates for M&O would drop from $0.91 in 2022 to $0.64 next year. That rate cut will save all Texas property owners — homeowners, businesses, and rental properties alike —$17.6 billion. The property taxes of an owner of a $300,000 home would be cut by $1,300 over the next two years, and that property tax reduction would continue in future years.

“The Governor’s plan would offer immediate and meaningful relief for all property owners in the state. This will be the largest property tax cut in the history of Texas.”

The following Texas business organizations and associations signed on to the letter to state leadership:

· Americans for Prosperity – Texas

· Associated General Contractors of Texas – Highway, Heavy, Utilities & Industrial Branch

· LIBRE Initiative

· National Federation of Independent Business – Texas

· North Texas Commission

· Tax & Fiscal Consulting

· Texas & Southwestern Cattle Raisers Association

· Texas Aggregates and Concrete Association

· Texas Agricultural Cooperative Council

· Texas Apartment Association

· Texas Association of Builders

· Texas Association of Business

· Texas Association of Dairymen

· Texas Association of Manufacturers

· Texas Building Owners and Managers Association

· Texas Cattle Feeders Association

· Texas Chemical Council

· Texas Cotton Ginners’ Association

· Texas Cotton Ginners’ Association

· Texas Grain and Feed Association

· Texas Hemp Coalition

· Texas Hotel & Lodging Association

· Texas Nursery & Landscape Association

· Texas Oil & Gas Association

· Texas Pipeline Association

· Texas Poultry Federation

· Texas Public Policy Foundation

· Texas REALTORS

· Texas Restaurant Association

· Texas Retailers Association

· Texas Seed Trade Association

· Texas Soybeans

· Texas Taxpayers and Research Association

· Texas Wine and Grape Growers Association

To read the full letter, click here.

TAB is the Texas State Chamber, representing companies of every size and industry. The Association’s purpose is to champion the best business climate in the world, unleashing the power of free enterprise to enhance lives for generations. Follow TAB on Facebook, Twitter, and LinkedIn.