Texas Legislature looking at further ways to reduce property taxes

AUSTIN – Gov. Greg Abbott has declared property tax cuts an “emergency item,” calling on Texas legislators to put $10 billion toward cutting property taxes. Here’s what’s on the table this session.

Lawmakers in the House and Senate expect to send an additional $3 billion to school districts over the next two years so they can bring down their tax rates.

The Senate’s main tax-cut proposal would use $3 billion to expand the state’s homestead exemption on school district taxes, which exempts a portion of a home’s value from being taxed by public schools. The proposal would boost that exemption from $100,000 to $140,000.

Senate budget writers have also set aside $500 million to pay for tax cuts for businesses.