1. As part of a property tax overhaul package, Bullock has proposed changing the homestead tax exemption, which would require a constitutional amendment and therefore a statewide election. 2. Banks have lobbied extensively to keep the current network of homestead exemptions. 3. Both states have unlimited homestead exemptions, meaning that bankrupts can protect their homes from creditors no matter how much they are worth. 4. -- Surviving spouses may continue to receive homestead exemptions for the elderly on property that was passed onto them by the deceased spouse. 5. A constitutional amendment is needed in Texas to change homestead exemptions. 6. But his signature on any bill ending the unlimited homestead exemption would create generate much anger in his home state. 7. But his signature on any bill ending the unlimited homestead exemption would prompt much anger in his home state. 8. Despite representing the Langs, Brookmyer said, he opposes the unlimited homestead exemption. 9. Even so, the issue appears politically untouchable, with two members of Congress introducing bankruptcy-overhaul bills last fall that ignored homestead exemptions altogether. 10. Her husband died eight years earlier and she failed to claim the homestead exemption in her name. |