Breakthrough Deal On Deal on Property Tax Legislation

You guys know I hate property taxes so I was happy to hear that there is proposed legislation that could reduce property taxes but I am a bit concerned that the "circuit breaker" addition seems a little suspect. The "circuit breaker" would give a 20% property tax break to owners of properties under 5M including (non-homesteaded) rental income producing, commercial properties, vacation homes, franchise taxes, and other properties that have provided revenue for the State of Texas. I am a bit perturbed that they stuck this in with the property tax reduction proposal as voters will now have to choose between getting the property tax reduction (plus a reduction of taxes for at least 3 years for other owners with properties under 5M) OR no property tax reduction at all for homesteaded properties. This doesn't really seem like a fair choice. It reminds me of when I give my children choices and all of the choices are what I actually want them to do! I just hope that the 3-year "circuit breaker" will attract more businesses, more vacation home buyers and make buying rental properties and commercial real estate more attractive. This is definitely a gamble because in the meantime we have not fully funded our school districts and this article made no mention of where the lost revenue will come from. What am I missing? What are your thoughts?

Here's the link: Breakthrough Deal On Deal on Property Tax Legislation