Two bills aiming to reduce property taxes in Texas by raising the homestead exemption to $140,000 have passed a key hurdle in the Senate. The bipartisan committee approved the bills, sending them to the full Senate for consideration. The bills, a priority for Lt. Gov. Dan Patrick, propose a constitutional amendment to allow the higher exemption and would cost slightly over $1 billion for the 2026-27 cycle. The state budget includes $3.5 billion for property tax compression, which would further reduce tax burdens for homeowners and businesses. The proposals aim to alleviate the rising cost of living in Texas, particularly for seniors on fixed incomes.
AUSTIN — Proposals to cut property taxes by raising the Texas homestead exemption to $140,000 cleared a key hurdle Tuesday when a bipartisan committee voted unanimously to approve and send two bills to the full Senate., proposing an amendment to the Texas Constitution allowing the higher exemption, are priorities of Republican Lt. Gov. Dan Patrick, who leads the Senate.
Texas had the third highest property taxes in the country a few years ago but has dropped to 10th place after lawmakers have worked on the issue for several legislative sessions, Bettencourt said.attached to SB 4, raising the exemption would cost a little over $1 billion for the 2026-27 cycle.
The exemptions are of particular benefit to older Texans, who are typically on fixed incomes and in homes that are increasingly expensive to maintain, surviving on groceries that are more costly, said Charles Scoma, who represents Tarrant County in the Texas Silver-haired Legislature, which advocates for seniors at the Texas Capitol.
Lawmakers started the session with a $24 billion surplus in available general revenue and a rainy day fund expected to pass $28 billion, making the state “well positioned to offer an even larger measure of tax relief,” said James Quintero of the Texas Public Policy Foundation, a conservative think tank.
PROPERTY TAXES TEXAS LEGISLATURE HOMESTEAD EXEMPTION SENATE BILL TAX RELIEF
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