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Dallas Seniors Get Property Tax Break
Dallas Seniors Get Property Tax Break

Yahoo

time2 days ago

  • Business
  • Yahoo

Dallas Seniors Get Property Tax Break

Dallas seniors and disabled homeowners will see significant property tax relief next year as the City Council approved raising exemptions from $153,400 to $175,000. The increase, announced in a press release, takes effect for the 2025 tax year. The expanded exemption means eligible homeowners with properties valued at $218,750 or less will pay zero city property taxes. That's because the exemption combines with the existing 20% homestead reduction. 'We are proud to support our older and disabled residents with this increase,' said Dallas City Manager Kimberly Bizor Tolbert. 'This exemption helps Dallas homeowners stay in their homes as they age.' The relief applies only to primary residences whose owners are 65 or older or certified disabled under Social Security guidelines. Current recipients don't need to reapply. Still, many eligible homeowners haven't claimed this benefit. Texas law allows only one exemption per residence, either over-65 or disabled. Surviving spouses can continue receiving the exemption if they were at least 55 when their partner died. But they must have already qualified for the over-65 exemption. However, the application process varies by location. The city of Dallas spans multiple counties, each with its own appraisal district. Dallas County residents apply through while Collin County homeowners use Those in Denton County visit The exemption reduces the taxable value specifically for city property taxes. Other taxing entities maintain separate exemption policies. City officials encourage all eligible homeowners to apply immediately. The increased exemption represents a substantial savings opportunity for fixed-income residents facing rising property values.

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