Governor Greg Abbott signs property tax reform bill

(Photo: Sharon Hahn Darlin / CC BY 2.0)
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AUSTIN, Tx. (CBS AUSTIN) -- Tightening the leash on property taxes in Texas is now a reality, CBS Austin reports.

Gov. Greg Abbott signed a bill into law Wednesday capping how much cities and counties can raise property taxes, and generally requires an automatic tax ratification election for cities, counties and some special districts

SB 2 was signed at at Wally's Burger Express, which Abbott's office says is struggling due to skyrocketing property taxes.

With the new law, the most cities can charge without an election now will be 3.5%, as opposed to the old limit of 8%.