AUSTIN - Voters soon will get to decide if they want to pay less in property taxes, as the Texas Legislature has passed a resolution to increase the homestead exemption.
SJR 2 increases the homestead exemption from $100,000 to $140,000. If voters approve the amendment to the Texas Constitution, it will be the third increase in three years.
Raising the exemption has been a priority for Lt. Gov. Dan Patrick since being elected in 2015, when the exemption was only $15,000.
“I have been fighting to reduce property taxes long before I was elected to the Texas Senate,” Patrick said in a previous statement. “I have made increasing the Homestead Exemption my mission because it is the best way to deliver meaningful property tax reductions for homeowners.”
Once signed into law and voters approve the constitutional amendment in November 2025, the $140,000 Homestead Exemption will be codified in the Texas Constitution.
According to Patrick, the Texas Senate delivered a tax cut of $1,266.30 for the average homeowner in 2023. When tax cuts from 2023 and 2025 are combined, homeowners will be receiving a total tax cut of $1,762.87. Seniors will receive a combined tax cut of $1,933.23, resulting in a 58.5 percent reduction in school district property taxes for seniors from 2023 to the present.
SJR 2 was supported by all voting members of the Texas Legislature and filed with the Texas Secretary of State’s office on May 22.
