Gov. Greg Abbott signs property tax legislation, voters to decide Nov. 7

There was no fanfare or big public announcement, but Texas Republican Gov. Greg Abbott recently signed legislation that could bring property owners the"The legislature's $18 billion omnibus plan to lower property taxes is done by compressing the school property maintenance and operations tax rate and by raising the homestead exemption from $40,000 per year to $100,000 per year. The plan also eliminates the franchise tax for small businesses.

The additional homestead exemption could save homeowners several hundred more dollars per year on their property tax bill, though that amount varies because tax rates vary across the state.

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