The Texas House and Senate have both adjourned from their special session after passing an $18-billion property tax cut. The bills are headed to Governor Abbott, who says he intends to sign them.
"I made a promise to Texans during my campaign that the State of Texas would use at least $13.5 billion from our historic budget surplus to provide substantial relief to property taxpayers across Texas," Gov. Abbott wrote in a statement he posted on Twitter. "The Texas House and Senate fulfilled our promise with an agreement that delivers a comprehensive, long-lasting solution to increasingly burdensome property tax bills. I look forward to signing this legislation into law to provide Texans with the largest property tax cut in Texas history."
The Texas House and Senate had passed separate versions of the tax break earlier this summer. The House adjourned early in its first special session, meaning lawmakers from that chamber were not able to negotiate with their counterparts in the Senate. The Governor called a second special session and the two chambers announced earlier this week that they had reached a deal. The Senate passed the legislation. The House followed on Thursday, then the Senate passed a resolution to put the plan on the ballot for voter approval on November 7th.
"Texans should take note of the November 7, 2023, constitutional amendment election date so they can vote in favor of this historic tax relief and several other key measures for the future of our state," said Lt. Governor Dan Patrick. "In 2021, Texas voters enthusiastically approved the constitutional amendment to increase the homestead exemption to $40,000 and I have complete confidence they will do the same this year to increase the homestead exemption to $100,000."
Texas Speaker of the House Dade Phelan also urged voters to support the measure this fall.
"The passage of this $18 billion package is a testament to the unwavering commitment of Texas leaders to address the concerns of taxpayers and provide significant relief from the burden of escalating property taxes," he said.
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