Texas House, Senate agree to 'biggest property tax cut in Texas history' texasnews
The House was pushing for property tax relief through compression of the school tax rate and included relief for small business owners but didn't include an increase to the homestead exemption, a nonstarter for the Senate. The Senate insisted any approved legislation must raise the homestead exemption from $40,000 to $100,000.until the chambers sent legislation to his desk.
The legislation will also include savings on the franchise tax for small businesses and create newly elected positions on local appraisal boards. The speaker said negotiations with Patrick were"extremely productive," and that they were able to come together and find common ground to provide"much-needed, much-deserved relief."
,"We don't even have anyone to send a bill to right now. So the House members and Speaker Phelan, they need to get their butts back to work in Austin."“It made the difference. It may have taken overtime, but the process has produced a great bill for homeowners and businesses,” said Patrick.
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