Property tax cuts for homeowners set for Texas House vote

AUSTIN (Nexstar) – Lawmakers in the Texas House are set to vote on a package of legislation that aims to cut property taxes for homeowners in the state. The House calendar calls for votes on two bills and two constitutional amendments to increase the state’s homestead exemption, which is the amount of a home’s value that is not subject to property taxes.

House members will consider Senate Bill 4, which calls for raising the homestead exemption for all homeowners from $100,000 to $140,000. Supporters of SB 4 said the increase could save the average Texas homeowner nearly $500 annually in taxes.

The House is also scheduled to take up Senate Bill 23, which would provide an additional raise to the homestead exemption for those 65 and older. It would raise the additional homestead exemption for elderly and disabled homeowners from $10,000 to $60,000. That’s on top of the current $100,000 exemption for Texas homeowners.

Both SB 4 and SB 23 require amendments to the Texas Constitution to take effect. The House is also scheduled to vote on corresponding resolutions to put the issues before Texas voters in November.

If SB 23 passes in tandem with SB 4, the total homestead exemption for elderly and disabled homeowners would rise to $200,000. Bill author Sen. Paul Bettencourt, R-Houston estimates that the increased exemption will save the average over-65 or disabled homeowner more than $950 annually in property taxes.