The Texas Legislature has passed Senate Bill 4 and Senate Bill 23, which increase the homestead exemption from $100,000 to $140,000. This change could reduce property taxes for nearly 6 million homeowners by about $500 per year, with larger savings—up to $950—for elderly and disabled residents. Rice University political science professor Mark Jones said the state will provide funds to make sure school districts do not lose money, ensuring “this legislation keeps every school district whole,” according to Click2Houston. The bills are now awaiting Governor Greg Abbott’s approval.
The Texas Senate passed an additional $10 billion in property tax exemptions, which could exempt seniors from school property taxes and increase business property tax exemptions to $125,000. Republican State Senator Angela Paxton said, "Every session we have been here, we have done historic, not just big things, historic things to create property tax relief for Texans," as reported by CBS News Texas. The Legislature also approved an $8.5 billion funding increase for public schools, including raises for experienced teachers and additional pay for new teachers.
The recent Texas legislative session included debates on immigration laws, a near-total abortion ban, and restrictions on THC products. The state offered $1.5 billion to attract film production, which received criticism from the film industry, as mentioned by CBS News Texas. Governor Abbott introduced a bail reform bill that requires denying bail in certain criminal cases and allows prosecutors to object to judges’ bail decisions. These issues, along with proposed changes to property taxes and other policies, will be decided by Texas voters in the November election.
