State of Texas: Compromise at the Capitol sends property tax relief to Texas voters

AUSTIN (Nexstar) – After a months-long stalemate that led to two special sessions, Texas lawmakers reached a compromise deal on property tax relief. The legislation passed both the House and Senate Thursday evening with near-unanimous support. It includes a measure to raise the homestead exemption to $100,000, up from the current $40,000 exemption. The plan includes $12 billion to lower school property tax rates, by having the state pay part of what school districts normally collect from homeowners and businesses. The compromise plan would cut franchise taxes for small businesses,...