Lt. Gov. Dan Patrick on Tuesday unveiled a plan to drive down property taxes by further hiking the amount of a home’s value that can’t be taxed to pay for public schools and lowering the age at which Texans qualify for additional relief on their school tax bills.
Under Patrick’s proposal, dubbed “Operation Double Nickel,” the state’s homestead exemption for school property taxes would increase by another $40,000, after Texas voters in November green-lit the latest increase by the same amount, from $100,000 to $140,000. The minimum exemption under Patrick’s latest plan would allow homeowners to shave $180,000 off the value that can be taxed by their local school district.
