The second special session of the year of the Texas Legislature adjourned sine die on Thursday after passing legislation aimed at reducing local tax rates and helping homeowners pay less on their homes following months of effort to advance property tax relief, District 24 Senator Pete Flores said.
Known as the “biggest property tax cut in Texas history,” the $18 billion package was sent to Governor Greg Abbot. Under the governor’s proposal, the state will raise the homestead exemption to $100,000, exempt certain businesses from paying franchise taxes and create a pilot program to limit the increase in property values.
“It is a great day for Texas,” Flores said. “Together, Senate Bills 2 and 3 and House Joint Resolution 2 will put $18 billion back into the pocketbooks of Texans,” said Flores. “I am proud of my Senate and House colleagues for providing robust reliefs and reforms and taking a multifaceted approach so all Texans are able to feel this historic relief.
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