Texas governor says state needs to cut 'out of control' property taxes

Texas currently has the sixth-highest property tax burden in the United States.

Since 2002, property taxes in Texas have increased 181%, according to a report featured on the Texans for Fiscal Responsibility website.

That puts buying a home out of reach for many people.

"Homeownership is the goal of so many who call Texas home,” said Vance Ginn, chief economist of the Texas Public Policy Foundation. “Unfortunately, inflation and a red-hot housing market aren’t the only obstacles making this task herculean – local property taxes are out of control.”

Baseline prices for housing have also gone up, though they seem to have peaked for now. The median home price in Texas in June was $349,000, which was the first drop in home prices since December 2020 in the state, according to a report from Texas A&M University. With this drop, the current home price is significantly higher than they were prior to the COVID-19 pandemic.

"Under the current system, Texans are merely renting their homes and their lands from the government,” Ginn said, “and when governments don’t get their money, they can take your property and auction it off to the highest bidder. With tens of billions of dollars in surplus funds collected from Texans, Texas has a unique opportunity to provide real relief that lowers property tax bills while funding core services.”

Data from Tax-rates.org shows the average 2022 property tax bill in Collin County is $4,351.

The property tax and mortgage add up to what many people can’t bear, and it has prompted the governor to call for relief.

"Texas comptroller estimates $30 billion account balance by next legislative session,” Gov. Greg Abbott tweeted in June. "We must use a substantial portion of this money to cut property taxes in Texas.”

A Texas property tax survey showed 71% of registered voters would be upset if the current legislative session ends with nothing done to address property taxes. Additionally, 82% of registered voters think addressing property taxes is an important issue in Texas.