Most Texas Senators have signed on to a new bill that increases the residence homestead exemption to $140,000. Twenty-nine Texas senators, headed by Sen. Paul Bettencourt (R-Houston) made the move to lower property taxes,

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

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