Texas House Gives Preliminary OK To $12B Property Tax Relief Bill

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A property tax relief plan has the preliminary approval of the full Texas House. State reps passed the bill on Thursday by a vote of 140 to nine. It still must pass a final vote in the House before moving on to the Senate. The bill proposes spending $12 billion on Texas school districts so that they can lower their property taxes on homeowners and businesses. The proposal is expected to meet resistance in the Senate over its reduction of the appraisal cap, or how much a home's taxable value can increase each year.


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