Abbott unveils 5-point plan to overhaul Texas property taxes, targeting relief for homeowners

Core Viewpoint - Texas Governor Greg Abbott has introduced a five-point plan aimed at reforming the state's property tax system to provide greater relief for homeowners, positioning it as a central element of his re-election campaign for a fourth term in office [1][2]. Group 1: Plan Overview - The five-point plan includes stricter limits on local government spending and tighter caps on property appraisals, with the ultimate goal of eliminating school district property taxes for homeowners [2][5]. - The plan proposes to limit local government spending growth to either the rate of population growth plus inflation or 3.5%, whichever is lower [5]. - A requirement for a two-thirds voter approval for local property tax increases is included, mirroring a supermajority requirement for some statewide property tax increases [5][6]. Group 2: Voter Involvement - Voters will have the opportunity to influence property tax reductions, with a provision allowing 15% of voters in a jurisdiction to petition for a rollback vote [6]. - The plan also includes a provision for voters to consider a constitutional amendment to eliminate school district property taxes for homeowners, with the state committing to fully fund public education, potentially halving property tax bills [13]. Group 3: Appraisal Reforms - The proposal mandates that property appraisals occur every five years instead of annually, which is expected to help homeowners better predict their property tax obligations [9]. - The cap on homestead appraisal increases would be reduced from 10% to 3% per year, and this cap would also apply to all properties, including rental and commercial [10].