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,

A bill to offer all homeowners in Wyoming a two-year, 50% reduction in property taxes has passed the state Senate.

Senate Bill 4 would increase the residence homestead exemption to $140,000, which would be the largest exemption in Texas history.

Legislation raising Texas’ property tax homestead exemption to $140,000 was filed in the Texas Senate on Friday, offering the first look at how the Legislature may handle one of Republican Gov. Greg Abbott’s emergency agenda items.