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The Texas Senate unanimously voted to advance the bill that would lower property taxes for the state. 

The bill now passes to the House of Representatives to be voted upon, if approved adjusting the homestead exemption requires it to be put on a ballot to approve an amendment to the Texas constitution. Voters would then decide to vote on whether or not to give themselves tax cuts. 

The bill authored by Paul Bettencourt (R-Houston) would dramatically decrease the amount of taxes paid by homeowners. The bill was passed in a unanimous 30-0 vote due to bipartisan support. 

“By following up on the largest, grandest, hugest property tax reduction in American History, $22.7 Billion to be exact, SB 4 and SJR 2 provide more meaningful reductions to Texas homeowners by raising the Homestead Exemption to $140k. This will be providing an estimated $500 savings to the average homeowner annually,” said Senator Bettencourt.

Senate Bill 4 includes a hold-harmless provision, guaranteeing that the state will fully cover any

ISD funding shortfalls resulting from the exemption increase.