How it works is homeowners can shave $140,000 off the taxable value of their home when paying school district property taxes. In theory, a home worth $140,000 would no longer be required to pay school property taxes, which often make up the largest portion of a homeowner’s tax bill.

Gov. Greg Abbott is expected to sign a new package of property tax cuts that would offer relief to millions of Texas homeowners struggling with rising bills.

Texas Gov. Greg Abbott is in North Texas on Monday to sign two bills into law that could save homeowners thousands. The two bills he is signing will lower property tax burdens in fast-growing areas like Denton County,