Gov. Greg Abbott Signs Bill Designed To Limit Property Tax Growth

Gov. Greg Abbott signed into law Wednesday a major reform measure intended to slow the growth of property tax bills. The measure includes a controversial provision that requires many cities, counties, and other taxing entities to hold an election if they wish to raise 3.5% more property tax revenue than the previous year. The growth rate excludes taxes levied on new construction and can be averaged over three years, allowing taxing units to exceed 3.5% in some cases.