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

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

A bill is making its way through the Texas legislature that would cut homeowners some slack: Senate Bill 4 by Sen. Paul Bettencourt, R-Houston, will raise the homestead exemption from $100,000 to $140,