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

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

Most Texas Senators have signed on to a new bill that increases the residence homestead exemption to $140,000. Twenty-nine Texas senators, headed by Sen. Paul Bettencourt (R-Houston) made the move to lower property taxes,

Senate Bill 4 would raise the Texas homestead exemption to $140,000 and ensure school districts would not lose money.