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City staff recommends raising Richardson’s over‑65/disabled property-tax exemption to $160,000 to preserve 30% benefit
Summary
Finance staff recommended increasing the city’s senior/disabled exemption from $145,000 to $160,000 to preserve the policy goal of shielding roughly 30% of an average senior homeowner’s value from taxation. Council members indicated support and asked staff to bring an ordinance to a future meeting.
City finance staff recommended the council raise the over‑65 and disabled property-tax exemption to $160,000 — a $15,000 increase from the current $145,000 — to keep the city’s financial-policy goal intact that the exemption deliver roughly a 30% tax benefit for an average senior homeowner.
Assistant Finance Director Todd (last name on file) told council staff had reviewed certified values and projected growth and concluded the $160,000 exemption would…
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