Texas Lawmakers Fast-Track Property Tax Cuts, Providing Relief for Homeowners

The Texas House has advanced an $18 billion legislative package to cut property taxes, which includes lower taxes for homeowners, a temporary cap on appraisal increases for some non-homesteaded properties, franchise tax relief for small businesses, and funding for school districts to cut taxes for all property owners. The package is expected to be approved by the Senate Finance Committee and both chambers of the legislature, and could be signed into law by Governor Greg Abbott by the end of the week. Democrats have raised concerns about the lack of relief for renters and additional funding for schools.