The marquee proposal would increase the amount of a home’s value exemption from school taxes to $140,000 from $100,000.

Proposals to cut property taxes by raising the Texas homestead exemption to $140,000 cleared a key hurdle when a bipartisan committee voted unanimously

A bill aimed at lowering property taxes unanimously passed in the Texas Senate on Tuesday with bipartisan support, according to a news release from Sen. Paul Bettencourt's office. Senate Bill 4 and Senate Joint Resolution 2 both aim to raise the homestead exemption to $140,

A bipartisan panel of Texas Senators approved legislation that would increase Texas' homestead property tax exemption, once again, to $140,000. It now heads to

A bipartisan committee voted unanimously to send to the full Senate legislation that would raise the state homestead exemption by $40,000.

In the latest of his many attempts to curb Texas' high property taxes, Republican Governor Greg Abbott wants to give the state's homeowners the power to weigh in on every hike. It's a move that critics warn could have a dramatic impact on the funding for public services in the Lone Star State.