Texas Senate Passes Its Version of Property Tax Bill

The Texas Senate advanced a new bill Tuesday to cut property taxes for all land-owning Texans, but because House members adjourned weeks ago, the proposal’s future could be more precise. The new Senate proposal would provide targeted tax relief to Texas homeowners, send state dollars to school districts so they can cut their tax rates, and give more businesses a break on their franchise tax bills. The proposal also puts tighter revenue caps on school districts to further drive down tax rates. House Speaker Dade Phelan named a committee to study property tax relief but did not comment on the Senate’s property tax-cut proposal.