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Texas Senate Approves Major Property Tax Break

Texas State Capitol

The Texas Senate has unanimously approved property tax legislation that would pump billions of dollars into public schools and give more significant tax breaks for home and business owners. The most famous part of the bill would raise the amount of a home’s value that can’t be taxed from $40,000 to $70,000, with an additional $20,000 bump for seniors. The Senate proposals now head to the House.