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City staff proposes doubling Colleyville homestead exemption to 14% to offset public-safety pay increase
Summary
City staff recommended increasing the homestead exemption from 7% to 14% for fiscal year 2026 and said the additional revenue to offset that change would largely come from commercial property tax increases; staff plans an ordinance first reading May 13.
City staff presented a financial analysis proposing that Colleyville double its residential homestead exemption from 7% to 14% for fiscal year 2026 and said the recommendation is intended to offset revenue raised for a citywide compensation adjustment, most of which would go to public-safety employees.
A staff presenter told the council that last year the council approved a 7% homestead exemption. The presenter said state statute requires homestead-exemption action be approved before the city adopts its budget and tax rate, which forces the exemption decision ahead of the full budget process.
Staff described the financial mechanics: the city could adopt a 14%…
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