Texas faces a $20 billion surplus: will lawmakers deliver property tax relief?

In Texas, state lawmakers are preparing to address a budget surplus of $23.8 billion as they begin the 89th session of the Texas Legislature. This session will last for 140 days, concluding with the development and approval of a spending blueprint that will allocate nearly $195 billion in state revenues over the next two years. The surplus, while significant, is lower than the record surplus witnessed two years ago. Lawmakers are mindful of pressing issues including high property taxes that are affecting homeowners, and there is a strong push for property tax relief as a priority in the current session. Representatives from both sides of the aisle are advocating for significant changes to bolster infrastructure investments and provide direct relief to families facing high tax burdens. Shelley Luther, a Republican representative, emphasized the urgent need for property tax relief, pointing out that many Texans feel as though they do not truly own their homes due to the high taxes imposed on them. Salman Bhojani, a Democrat, echoed the need for property tax reforms but also underlined the importance of investing in long-term infrastructure projects, particularly in water systems, which require substantial funding over the coming decades. Alongside property tax discussions, Lawler, another key figure in Texas politics, has introduced legislation aimed at lifting federal deductions for state and local taxes, adding to the broader narrative of financial relief and reform being debated in the current legislative session. The upcoming legislative decisions will not only shape the state’s budget but potentially affect thousands of Texas residents as advocates push for laws to foster economic relief versus long-term investment. Lawmakers face a race against time, with many bills to consider while balancing the need for immediate relief with sustainable long-term planning for Texas’s growing needs.