"Record-Breaking $18 Billion Property Tax Cut Deal Reached in Texas"

Texas Senate and House leaders have reached an $18 billion deal for property tax relief, the largest in the state's history. The proposed legislation includes reducing the school property tax rate, providing a $100,000 homestead exemption for all homeowners, implementing a 20% circuit breaker on appraised values for non-homesteaded properties valued at $5 million and under, and offering savings on the franchise tax for small businesses. The bills will be filed this week with the goal of passing them soon. The deal comes after a months-long stalemate between the House and Senate, prompting a second special session called by Governor Greg Abbott.