TPPF Applauds 2025 Property Tax Cuts
AUSTIN- On Monday, Governor Abbott signed several property tax relief measures into law, setting the stage for a $10 billion tax cut to take effect later this year, assuming voters approve related constitutional amendments in November. Once fully in place, the tax relief package is expected to lower taxes for the average homeowner by $484 per year while elderly and disabled homeowners will pay $938 less per year. Meanwhile, the average small business owner will see an estimated $2,500 tax reduction due to changes in the business personal property tax exemption.
“This session’s $10 billion tax cut will lighten the load for most Texas taxpayers, who’ve been crushed by fast-growing local property taxes. Together with the 2023 tax cuts, the Legislature has lowered the average homeowner’s tax bill by almost $1,800 over the last 2 sessions,” says TPPF CEO Greg Sindelar.
“Texas is trapped in a cycle wherein the Legislature moves to lower taxes and immediately thereafter, local governments raise taxes through rate hikes, bond elections, and spending commitments. This effectively denies Texans their full relief and subsidizes local government budgets,” says TPPF’s James Quintero. “TPPF will look to work with the legislature in the 90th Legislative Session to push bold tax reforms to prevent their tax relief from being stolen by local government spenders.”