If the Legislature approves SB 4, Texas voters would have to approve the amendment to the state Constitution to make the tax cut permanent.

The Texas Senate moved swiftly this week to advance property tax relief, one of Gov. Greg Abbott’s emergency items this session. On Thursday, the chamber voted unanimously to increase the state’s homestead exemption on school district taxes from $100,

The marquee proposal would increase the amount of a home’s value exemption from school taxes to $140,000 from $100,000. The legislation must win approval from the House next.

SB 4 would increase the Homestead Exemption from $100,000 to $140,000, and up to $150,000 for seniors and disabled people.

Senate Bill 4 would raise tax exemptions on Texans’ primary homes to $140,000 and would apply only to taxes levied by public schools. If approved by both chambers, the tax cut would be on voters’ ballots in November.

Proposals to cut property taxes by raising the Texas homestead exemption to $140,000 cleared a key hurdle when a bipartisan committee voted unanimously

Texas Senators voted unanimously to increase the homestead exemption to $140K to provide tax relief to Texans. If passed in the House, it could mean some homeowners will pay $0 on school district taxes.

The bill would increase the homestead exemption from $100,000 to $140,000, and $150,000 for seniors, which is the largest exemption increase in state history.