The state of Texas is sitting on a hefty $27 billion surplus.
Lt. Gov. Dan Patrick on Wednesday laid out a list of priorities he would like lawmakers to consider in the next budget. Patrick, a Republican who resides over the state Senate, emphasized that it would be up to the members, but he believes the top priority should be cutting property taxes.
“We need a robust property tax cut for everyone in the state, and we have a chance,” he told reporters on Wednesday during a press conference. “That should be a focal point of this.”
Patrick said he would like to see the state’s homestead exemption increase from $40,000 to at least $60,000, possibly $65,000. In May, Texas voters elected to raise the homestead exemption from $25,000 to $40,000….