The Texas Senate has unanimously passed an $18 Billion property tax relief bill.
Highlights of the bill include spending over $12 Billion on reducing the school property tax rate and a $100,000 Homestead Exemption. Senator Paul Bennencourt, who authored the bill, says it was made possible because of bipartisan support
The bill now moves to the Texas House on Thursday
The package could land on Gov. Greg Abbott’s desk by the end of the week. Abbott has said he plans to approve it. Voters must pass the plan in a constitutional election in November for it to take effect in the 2023 tax year.
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