The Texas Senate has unanimously passed Senate Bill Four to save Texas homeowners a few hundred dollars per year.
SB4, and it's companion SJR2, increases the homestead exemption for school district property taxes from $100,000 to $140,000. Homeowners aged 65 and older would qualify for an additional $10,000 for a total exemption of $150,000.
The bill also ensures that school districts receive additional state aid to offset revenue losses caused by the exemption increase.
Houston Republican Senator Paul Bettencourt was the author of the bill.
"By passing SB 4 and SJR 2, we are putting real dollars back into the pockets of Texans while ensuring our schools remain fully funded," Sen. Bettencourt said after the 30-0 vote on the bill, which now goes to the Texas House. "More property tax cuts are on the way."
There are 5.7 million homeowners in the state of Texas. Gov. Greg Abbott said property tax relief was one of the main issues he wanted the Texas Legislature to handle this session.
