AUSTIN — Gov. Greg Abbott, Lt. Gov. Dan Patrick and House Speaker Dennis Bonnen on April 10 released a joint statement promoting a twofold method for the 86th Texas Legislature to curb property tax increases across the state.
“Texans are fed up with skyrocketing property taxes. At the beginning of the legislative session, the governor, lieutenant governor and speaker laid out an agenda for property tax relief through the passage of Senate Bill 2 and House Bill 2 to limit property tax growth,” the state’s top officeholders said.
SB 2 and HB 2, the not-yet-approved property tax reform bills, would reduce the revenue growth increment used for determination of the rollback tax rate from 8.0 percent to 2.5 percent for taxing units other than small taxing units unless the voters in a small taxing unit election decide to opt-in to the proposed new voter-approved tax rate procedure.
