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Council discusses senior/disabled homestead-exemption options; no change adopted
Summary
City staff briefed council on homestead and 65-and-disabled exemptions ahead of the July tax-rate deadline. Council members discussed state proposals and local trade-offs and took no action at the meeting.
City Finance staff presented options and background information on homestead and 65-and-disabled property tax exemptions as the council prepared for the upcoming budget and tax-rate process.
Mark Holloway, the city’s chief financial officer, told the council that the city’s current 65-and-disabled exemption is $90,000 and that an increase of $5,000 in that exemption would lower an eligible homeowner’s tax bill by about $21 at the…
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