Proponents are calling it the “biggest property tax cut in Texas history.” Both chambers of the Texas Legislature passed an $18 billion package during the second special session, the Austin American-Statesman reported.If signed as expected by Gov. Greg Abbott, the bill raises the homestead exemption to $100,000, with an additional $40,000 exemption for owners 65 and older. It also dedicates more than $12 billion to lower school property taxes.Agreement on a tax cut plan took months of haggling between competing plans in the House and Senate. After House Speaker Dade Phelan and Lt. Gov. Dan Patrick met, a plan began ...