Texas property taxes and business franchise taxes are set to fall considerably as Gov. Greg Abbott signs bills that lawmakers approved in final votes Thursday.
The $18 billion package, shaped after a months-long standoff among legislative leadership and the governor, all Republicans, lowers the school property tax rate, establishes a three-year pilot program for a 20% tax circuit-breaker on non-homestead properties valued at $5 million or less, and reduces the number of businesses that have to pay the franchise tax.
Abbott said in a statement late Thursday that he was “looking to sign this legislation into law” to provide ...
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