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 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,

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

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

A Texas Senate bill to raise the homestead exemption and provide relief to the state's property taxpayers quickly passed out of committee Tuesday.