Travis County Increases Homestead Exemptions by $10,000 for Elderly and Disabled Residents
The Travis County Court of Commissioners unanimously approved a $10,000 increase in the homestead exemption for elderly and disabled homeowners. (Chloe Young/Community Impact Journal)
The Court of Travis County Commissioners unanimously approved a $10,000 increase in the homestead exemption for elderly and disabled homeowners on June 14.
“It’s just a little good news, but we need a little good news,” said Precinct 3 Commissioner Ann Howard.
The $10,000 increase brings the county’s homestead exemption to $110,000 for residents age 65 and older as well as persons with disabilities in tax year 2022 and fiscal year 2022-23. Last year, the court increased the homestead exemption for elderly and disabled households from $85,000 to $100,000. The increase is expected to lower tax bills by $32 for elderly and disabled homeowners, while raising tax bills by $3.30 for other households, Travis County Budget Director Travis Gatlin said.
“There’s been an increase in home values in the Austin, Travis County area, some 30% to 40%, even 50%,” Gatlin said. “If you get a homestead exemption, you get what’s called the 10% cap, which means your taxable value can only increase by 10% a year, and part of that is because of that. – and also recognizing the rise in values - it is recommended that our office increase this $10,000.
Elderly and disabled homeowners will continue to receive a 20% homestead exemption available to all Travis County residents. The $110,000 exemption will be applied to eligible households in addition to the 20% reduction, Gatlin said.
Homeowners can visit the Travis County Assessment District website to request an exemption.