Plano outlines homestead and senior exemptions: 20% exemption, $40,000 over‑65 exemption, and tax freeze explained
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Summary
Budget staff reiterated the city's existing tax relief for homeowners — a 20% homestead exemption, a $40,000 exemption for homeowners age 65 and older or disabled, and a tax freeze for qualifying seniors — and directed residents to central appraisal district websites for forms.
City of Plano budget staff summarized property-tax relief options available to homeowners, including a 20% homestead exemption, a $40,000 exemption for residents 65 and older (or disabled), and a tax freeze for qualifying seniors.
Director of Budget Karen Rhodes Whitley said, “It is important to remember that the city of Plano is one of the few cities in Texas to offer a 20% homestead exemption. This 20% is equal to approximately $594 annually in savings for the average homeowner.” Whitley also described the senior exemptions: “In addition to that, you qualify for $40,000, 65 and over. And in addition to that, we do freeze your taxes once you turn 65.” She explained that the tax freeze keeps the city portion of the tax bill at the amount in place when the homeowner qualified and remains until ownership changes or the property is no longer eligible.
Whitley told listeners that forms and qualification information are available from the appropriate central appraisal district websites (Collin and Denton central appraisal districts) and encouraged residents to apply when approaching eligibility.
The comments were presented as information during the telephone town hall; there were no votes or changes to exemption policies announced. Residents were advised to consult the central appraisal district websites for applications and specific instructions.
