Greg Abbott Signs Historic Property Tax Cut Bill, Now Voters Must Approve Homestead Exemption Increase

Texas Gov. Greg Abbott signed a historic property tax cut package that could put an estimated $1,300 back into millions of Texas property owners pockets.

Texas Gov. Greg Abbott speaks during a news conference in Austin, Texas, on March 15, 2023. Brandon Bell/Getty Images

Gov. Greg Abbott has inked a historic $18 omnibus property tax cut bill that promises to deliver savings to millions of property owners across the Lonestar state.

On July 22, Mr. Abbott quietly signed the property tax cuts bill and franchise tax relief bill, Senate Bill 2 (pdf) and Senate Bill 3 (pdf), respectively, which were passed earlier this month during the second special session called by the governor.