Texas Legislature Passes Historic Tax Relief Package This evening the House overwhelmingly gave final approval of the tax relief package that was passed unanimously by the Senate yesterday.. The package includes SB 2 (tax rate compression, homestead exemption increase, three-year 20% “circuit breaker” on appraisal increases, ARB Board additions), SB 3 (franchise tax payment threshold),…

Update on Tax Relief Package 88th 2nd Called Special Session During a hearing held today, the House Ways and Means committee took up the proposed tax relief package, which consists of HB 2 (school tax rate compression and exemptions, appraisal limitations and administration), HB 3 (franchise tax exemption and exclusions) and HJR 2 (Constitutional amendment…

Lt. Governor Patrick and Speaker Phelan Announce Deal on Property Tax Relief Earlier this morning, Lt. Governor Dan Patrick and House Speaker Dade Phelan released a joint statement to announce their agreement on a potential $18 billion property tax relief package. The legislation is expected to be filed later today and then voted on sometime…