Gov. Greg Abbott announced his reelection campaign in November, promising to lower property taxes. His plan covers three areas which The Texas Tribune is breaking down over a series of articles. This is Part Three. Read Part One here and Part Two here.
FORT WORTH — Gov. Greg Abbott wants to put a tighter lid on how fast property values can rise in a bid to deliver property tax relief to homeowners and businesses — but tax policy experts across the political spectrum warn the proposal wouldn’t address the root causes of higher tax bills and would backfire with severe consequences.
A property’s value is a key part of the equation that forms a property owner’s tax bill. That bill is determined by multiplying the property value by the tax rate set by school districts, cities, counties and other taxing jurisdictions.
