Texas homestead exemption hike approved
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ISD property tax billDallas News
•Business
Business & Economics
Texas Senate panel approves $140,000 property tax homestead exemption
75% Informative
A bipartisan committee votes unanimously to approve and send two bills to the full Senate .
The two bills are priorities of Lt. Gov. Dan Patrick , who leads the Senate .
Voters approved raising the school-district tax exemption from $40,000 to $100,000 in 2023 .
The new homestead exemption amount would save homeowners an additional $363 per year on average.
Abbott has asked for legislation requiring voter approval for local tax increases.
Public education advocates fear that if the state can no longer afford the cuts, public schools will lose money.
A progressive think tank says the homestead exemption appears to be the most equitable way to deliver property tax relief.
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