Texas Voters Approve Massive Property Tax Cut

A massive property tax cut is on its way to Texas homeowners and businesses. On Tuesday, voters overwhelmingly approved a state constitutional amendment that changes the way Texas public schools are funded. Proposition 4 was authored by Houston Republican Sen. Paul Bettencourt. The $18 billion property tax-cut amendment won the support of 84% of voters. Prop 4 was intended to lower school district property taxes, which make up most of the property tax bill for a Texas landowner.