"Texas State Leaders Secure Property Tax Relief Agreement"

Texas Lt. Gov. Dan Patrick and House Speaker Dade Phelan have reached an agreement on proposed legislation that would deliver the largest property tax cut in Texas history. The $18 billion tax cut package includes reducing the school property tax rate, raising the homestead exemption, implementing a circuit breaker on appraised values for certain properties, and providing savings on the franchise tax for small businesses. The compromise has received support from Gov. Greg Abbott, and the proposed legislation is expected to be submitted later this week.