(WBAP/KLIF) — With the Texas Legislature still grappling over property tax relief for Texans, one North Texas city has taken matters into their own hands. The Fort Worth City Council wanted to provide relief to residents suffering from rising inflation and an uncertain economy.
So, the city council, Tuesday, voted unanimously to increase the ‘Over 65’ and ‘Disability’ homestead exemptions from $40,000 to $60,000. The move was made to further alleviate the property tax burden on those most vulnerable residents. This builds upon the city’s existing overall homestead exemption, which was already maxed out at 20%, as well as Tarrant County’s newly adopted 10% exemption.
Fort Worth Mayor Mattie Parker says the increased exemption will be effective for the current tax cycle. the last time fort worth increased the homestead exemption was in 1981.
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