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Council briefed on senior/disabled property tax exemption; staff recommends no change
Summary
Finance staff told council the current $160,000 senior/disabled homestead exemption keeps the average exempt home's taxable value at roughly 30–33% of market value and recommended maintaining the exemption; staff estimated the current exemption saves an average senior about $867 on the city tax bill.
Todd Gastroff, director of finance, presented the annual review of Richardson's 65-and-disabled property tax exemption and recommended the council maintain the current $160,000 exempt value for the coming year.
Gastroff described how market value and taxable value differ and said, based on certified values, the average senior home market value is about…
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