NEW CANEY – Lt. Gov. Dan Patrick issued this statement today:
“When I became Lt. Governor in 2015, the homestead exemption was $15,000, and today, the exemption is now $100,000. The largest property tax cut in history has been ceremonially signed into law today, with the $100,000 homestead exemption as the centerpiece. This $18 billion tax relief package will result in savings of $1,250 to $1,450 for the average Texas homeowner. This is permanent tax relief that Texans will receive every year in the future.
“This historic tax relief package removes 67,000 small businesses from paying the franchise tax all together so our businesses can continue to grow jobs and power the Texas economy forward.
“I want to especially thank Sen. Paul Bettencourt for his hard work in carrying Senate Bills 2 and 3. Importantly, Texans must get out to vote in November 7th’s constitutional amendment election so they can overwhelmingly support Proposition 4 to ensure this historic tax relief is permanently written into the Texas Constitution.”