AUSTIN — A popular proposal for property tax relief that will be debated by legislators would funnel $3 billion of sales, gas and other state taxes to...
Homeowners would see roughly a $300 to $450 tax break if the Legislature approves a $30,000 increase to the homestead tax exemption.
Lt. Gov. Dan Patrick has proposed raising the current homestead exemption to school district property taxes from $40,000 to $70,000. The Senate has included the program in its initial state budget. Both Democrats and Republicans have expressed support for increasing the homestead exemption. In North Texas, homeowners would see their tax bill cut roughly between $350 and $400, depending on the tax rate of their school district.
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