Read more A bill aimed at lowering property taxes unanimously passed a Texas Senate committee Tuesday, clearing the way for a vote before the full Senate. The Senate Local Government Committee voted 6-0 to approve Senate Bill 4,

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,

A bipartisan committee voted unanimously to send to the full Senate legislation that would raise the state homestead exemption by $40,000.

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

A Texas Senate bill to raise the homestead exemption and provide relief to the state's property taxpayers quickly passed out of committee Tuesday.

SB 4 promises to provide more tax relief for homeowners and cash payments to local schools to replace a chunk of the revenue stream districts would lose.