Senator Paul Bettencourt announced that the Senate Committee on Local Government unanimously passed Senate Bill 4 and Senate Joint Resolution 2, which include a $140,000 Homestead Exemption to be sent to the Senate. The announcement was made in a press release on February 11, 2025.
According to the press release, Senate Bill 4 and Senate Joint Resolution 2 are priority measures from Lieutenant Governor Dan Patrick. They aim to increase the homestead exemption from $100,000 to $140,000, with bipartisan support expected. Senate Bill 4 works alongside Senate Bill 1, which offers school district tax rate compression, resulting in additional savings for homestead property owners. The bill also ensures continued protections for homeowners over 65 and those with disabilities while addressing potential funding shortfalls for school districts.
With the passage of SB 4 and SJR 2, the Texas House will have the opportunity to vote on a record increase in the homestead exemption, surpassing the 83% approval rate seen in 2023. The bills include a hold-harmless provision to ensure no negative impact on school funding due to the exemption increase. After passing the Senate, SB 4 and SJR 2 will proceed to the House for a vote.
"By following up on the largest, grandest, hugest property tax reduction in American History, $22.7 Billion to be exact, SB 4 and SJR 2 provide more meaningful reduction to Texas homeowners by raising the Homestead Exemption to $140k. This will be providing an estimated $500 savings to the average homeowner annually," said Bettencourt.
Bettencourt represents Senate District 7 in West Harris County and is Chair of the Senate Committee on Local Government. He also serves on the Senate Finance, Education, and Criminal Justice committees. Appointed by Lieutenant Governor Patrick to the Redistricting Committee, he served as Chair of the Senate Republican Caucus from 2016 to 2021. A Texas A&M University graduate with a Bachelor of Science in Industrial Distribution, he is President and CEO of a Houston-based tax consulting company.
