The marquee proposal would increase the amount of a home’s value exemption from school taxes to $140,000 from $100,000.—
Sign up for The Brief, The Texas Tribune’s daily newsletter that keeps readers up to speed on the most essential Texas news.
A Texas Senate committee on Tuesday quickly and unanimously advanced a proposal to provide billions of dollars in tax breaks to homeowners in a bid to blunt the state’s high property tax bills.
Senate Bill 4, that chamber’s marquee property tax-cut proposal, would set the state’s homestead exemption on school district taxes at $140,000 of value, which is the amount exempted from being taxed to pay for public schools. The current exemption sits at $100,000.
