‘Texas-sized’ property tax cut approved in Senate, but House Dems may push back

AUSTIN – The Texas Senate approved an $18 billion property tax cut Wednesday moving the long-promised relief package for property owners one step closer to...

As the Senate approved the tax cut, Dallas Democratic Rep. John Bryant circulated a letter among House Democrats on Wednesday urging them to either vote against or withhold their vote for a needed amendment to the Texas Constitution accompanying the tax cut bill. The House is scheduled to vote on the property tax bills Thursday.Advertisement

The bill includes an increase to the homestead exemption, decreases in local school district taxes and a tax break for small businesses. The large majority of the funds goes toward school district maintenance and operations taxes that will decrease tax rates by roughly 10.7 cents, a 23.8% decrease, according to Bettencourt, the Houston senator who authored the Senate bills.

The Senate also approved a bill that will increase the exemption for businesses from the state’s franchise tax.That is getting a bump from $1.35 million to $2.47 million. That will exempt about 67,000 businesses from the franchise tax — about 40% of the businesses that pay the tax, according to the Texas comptroller’s office.

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