The stalemate on Texas property tax reduction continues- What's Your Point?
Houston - Lt Governor Dan Patrick offering an $18 billion property tax relief proposal to both Governor Greg Abbott and the Texas House.
While the Senate plan retains a permanent and whopping 60% increase in the homestead exemption up from $40,000 to $100 k - the senate sweetened the deal with an additional $400 million dollars to drive down tax bills for all property owners including those with corporate and commercial holdings.
In addition - the senate proposed to abolish the franchise tax for 67,000 small businesses and limit future local tax increases to 1.75 % per year unless voters deliver their approval for more.
The revised plan drew unanimous bi-partisan support in the upper chamber.
Apparently, the governor said "no dice" - sticking to the demand that businesses and commercial landowners get a bigger piece of the tax relief pie - at the expense of raising the homestead exemption, with Patrick and the senate unwilling to budge the stalemate continues.