"Texas Governor Enacts Historic $18 Billion Property Tax Cut, Saving Texans Money"

Governor Greg Abbott has signed legislation delivering the largest property tax cut in Texas history, amounting to $18 billion. The tax cut includes raising homestead exemptions to $100,000, protecting senior homeowners from being priced out of their homes, doubling the small business exemption for the Franchise Tax, and protecting small businesses from excessive appraisal increases. The tax relief will be funded by Texas' historic budget surplus and will be subject to approval by Texas voters in November 2023.