Collin College Farmersille Fall

City considers increasing exemption for eligible taxpayers

by | Mar 21, 2024 | Area news, Latest

Farmersville taxpayers 65 or older and those who are disabled may see additional tax relief coming their way as soon as next year.

Councilmembers discussed the current exemption of $10,000 at the Tuesday, March 12 regular monthly meeting.

City Manager Ben White provided data regarding how the city’s assessed value has grown since the exemption was established in 2000. 

White cited the city as having $83 million dollars in assessed value in 2000, as compared to $474 million now.

In 2000, there were 222 homestead exemptions for those 65 and over and/or disabled. Currently, there are 257 homestead exemptions.

The amount of value exempted in 2000 equaled 2.59% of overall assessed value.

Due to growth in value, that amount exempted now equals only 52% of the total, according to White.

To read the full story and support local community journalism subscribe to The Farmersville Times today!

By Cole McClendon | [email protected] 

NTMWD Plant Smart 2024

0 Comments

Related News

Young man recognized for bravery

Young man recognized for bravery

Mayor Craig Overstreet presents Karter Dodson with a certificate proclaiming July 9, 2024, as “James Karter Dodson Day” in Farmersville in recognition for his bravery in saving the life of another swimmer at the Lakehaven subdivision pool last month. Farmersville City...

read more
Women thought to have been trafficked

Women thought to have been trafficked

The U.S. Department of Homeland Security is among agencies investigating charges alleging four Collin County residents had been trafficking female immigrants. The Princeton Police Department filed the charges in March after finding 15 women in a house on Ginsburg...

read more
Swatting suspect identified

Swatting suspect identified

A juvenile suspect in East Texas is believed responsible for numerous bomb threats and “swatting” hoaxes across multiple states, the Collin County Sheriff’s Office (CCSO) said. The investigation began in May when the suspect initiated a swatting incident at a...

read more
Residents urged to share input on future parks

Residents urged to share input on future parks

Residents of Farmersville are encouraged to “come together and share ideas” in shaping the future of the city’s parks and recreation facilities during a second Open House hosted by the Parks & Recreation Board. “The Farmersville Parks & Recreation Board...

read more
Celebrating 25 years of leadership

Celebrating 25 years of leadership

The Rev. Bart Barber was celebrated for his 25 years of service as the lead pastor of First Baptist Church Farmersville Sunday, July 7. The Rev. Bart Barber has been preaching the Gospel to his Farmersville flock for 25 years. On Sunday, July 7, they gathered to offer...

read more
Farmersville utility bills delayed

Farmersville utility bills delayed

Residents are advised that their monthly utility bills may arrive later than usual this month due to a printing error at the mailing center. According to a statement from the city of Farmersville, the bills, which are typically dispatched by the first of each month,...

read more
Resident feedback on parks helpful

Resident feedback on parks helpful

The park adjacent to the Onion Shed received a bridge update in the last year. Farmersville residents have voiced their opinions on the municipal park system, providing crucial feedback that will shape the future of local parks and recreation. Bryan “Woody” Woods, the...

read more
Subscribe 300x250 - Love