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

Texas Gov. Greg Abbott released a five-point plan to reform the Lone Star State's property tax system to provide more relief to homeowners.

The Republican governor is making the property tax overhaul a key plank in the platform for his re-election campaign as he seeks a fourth term in office.

Abbott announced the plan Wednesday during a Taxpayer Empowerment event in Houston and said the five-point plan would impose tougher limits on local government spending, while also implementing tighter caps on property appraisals.