Just One Signature Away From Big Property Tax Relief for Texans

If you are a homeowner in Texas, then you know just how high your property taxes can get.  One of the ways to save money on your property taxes is a homestead exemption. You have two choices: you can accept the appraisal and pay more property tax, or you can spend money trying to fight the increase.  Either way, you are out a lot of money.

One of the ways to save money on your property taxes is a homestead exemption

How Does Homestead Exemption Work in Texas?

According to the Texas Comptroller, a homestead exemption reduces the appraised value of a home and, as a result, lowers your property taxes.

Read More: Texas Property Owners May Get More Relief with New Bill

What’s in Texas Senate Bill 4?

Senator Paul Bettencourt created Senate Bill 4. This bill would increase the homestead exemption to $140,000, and for homeowners over 65 or those with disabilities, would provide an exemption of $150,000.

What’s in Texas Senate Bill 23?

Along with Senate Bill 4, Senate Bill 23 is also going before the Governor.  Senate Bill 23 increases the homestead exemption for elderly and disabled homeowners from $10,000 to $60,000, which would increase the homestead exemption to $200,000.

How Much Will Texas Homeowners Save if Senate Bills 4 and 23 Pass?

If the Governor signs both bills, homeowners could save almost $500 per year on property taxes.

A homestead exemption lowers school district taxes and possibly other local taxes, depending on where you live.

Read More: Governor Abbott's Signature Creates Texas Regulatory Efficiency

When Would the Texas Homestead Exemption Changes Take Effect?

Homeowners await Governor Abbott's signature, and if signed, it should go into effect on September 1, 2025.

As prices and taxes rise, any relief is welcome news for Texas homeowners.