Photo: Dzmitry Dzemidovich / iStock / Getty Images
Texas State Senator Paul Bettencourt is making another move to lower property taxes.
On Friday he filed Senate Bill 4 with 28 senate joint authors to increase the residence homestead exemption to $140,000, marking the largest exemption in Texas history. SB 4 is a priority Bill of Lt. Governor Dan Patrick.
“My office estimated $363.44 in annual school property tax savings for the average Texas homestead based on a statewide ISD average tax rate of $0.9086, but wait, we’re not done yet!” said Senator Bettencourt. “SB 4 will not only cut ISD property taxes, but the state pays the bill, guaranteeing that no school district loses out on critical funding,” Senator Bettencourt added. “This measure is a win-win for taxpayers and everyone alike.”