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Texas Lt. Gov. Dan Patrick recently released the following statement regarding property and franchise tax relief: “When I became Lt. Governor in 2015, the homestead exemption was $15,000, and today, the exemption is now $100,000,” said Patrick. “The largest property tax cut in history has been ceremonially signed into law 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.