Locator: 48662TEXAS.
Texas lawmakers are on track to reduce property taxes for homeowners and businesses after a pair of bills were greenlit by the House on May 20, 2025.
The overview:
- Senate Bill 4 would raise the statewide homestead exemption from $100,000 to $140,000, applying only to taxes levied by public schools.
- SB 23 would give homeowners who are over 65 years old or have a disability a $200,000 exemption from school taxes.
- House Bill 9: one day earlier, House lawmakers accepted senators’ amendments to House Bill 9, which would exempt up to $125,000 of businesses’ personal property from taxation.
More details: All three bills are accompanied by proposed constitutional amendments, which are set to appear on Texas voters’ ballots in November. The state will spend about $10 billion on the tax cuts.
The debate: On the House floor May 20, lawmakers discussed concerns that the tax relief package would not directly benefit millions of renters or impact municipalities' ability to raise tax rates.
