"Texas Legislature Divided Over Property Tax Relief Measures"
The Texas House has passed a $12bn proposal aimed at providing property tax relief to homeowners and businesses, which includes lowering the state's "appraisal cap" from 10% to 5%. The move has drawn criticism from housing experts, business groups, and even some tax-cut proponents, who predict that it would lead to major inequities among property owners and drive up housing costs. The Senate has a different proposal, which includes raising the state's homestead exemption and giving tax credits to businesses. The two chambers will have to reconcile their proposals before the end of the legislative session.