Today, Texas House Speaker Dade Phelan and Lt. Governor Dan Patrick announced an agreement on an $18 billion property tax relief package that reduces school tax rates, increases the homestead exemption, initiates a circuit breaker pilot project, and provides franchise tax relief.

“TPPF thanks and congratulates Governor Abbott, Lt. Governor Patrick, and Speaker Phelan for delivering the largest property tax cut in Texas history.” said TPPF’s CEO Greg Sindelar. “The $18 billion tax relief package unveiled today will ease the burden for millions of tax-weary Texans and keep the Texas economy strong. Everyone will pay lower taxes under this plan—and they’ll notice it.”