The Texas House and Senate have agreed to cut the amount of taxes paid by homeowners who live in their primary residence and declare it to be their homestead. 

Increases in the homestead exemption will be retroactive to this tax year if voters approve the changes presented on the Nov. 4 ballot. 

Senators approved Senate Bill (SB) 4 30-0 in February and representatives agreed 143-0 on May 21.

SB 4 would increase the amount of a homestead’s value that could be excluded from taxation from $100,000 to $140,000. 

According to Lt. Gov. Dan Patrick, 49% of school districts – a total of 492 — have an average home value under $140,000.

“School M&O (maintenance and operation) property taxes will be eliminated for the average homeowner in those districts,” Patrick said. 

Also approved was SB 23 that gives an even bigger break to older Texans and individuals with disabilities, raising their additional exemption from $10,000 to $60,000 for a total of $200,000.

“This will provide real relief that homeowners will see reflected on their tax statements,” said District 67 Rep. Jeff Leach.

District 89 Rep. Candy Noble said, “More than 60% of senior and disabled homeowners could see their school property tax bill wiped out entirely” if voters approve the increases in November.

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By Bob Wieland | [email protected]