“It's just a little bit of good news, but we need a little good news,” Precinct 3 Commissioner Ann Howard said.
The $10,000 increase brings the county's homestead exemption to $110,000 for residents age 65 and older as well as those with disabilities during the 2022 tax year and 2022-23 fiscal year. Last year, the court raised the homestead exemption for senior and disabled households from $85,000 to $100,000. The increase is expected to reduce tax bills by $32 for senior and disabled homeowners, while raising tax bills by $3.30 for other households, Travis County Budget Director Travis Gatlin said.
“There have been increasing home values in the Austin, Travis County area, some of those significantly 30%-40%, even 50%,” Gatlin said. “If you do have a homestead exemption, you do get the benefit of what's called the 10% limit cap, meaning that your taxable value can only go up 10% a year, and in part because of that—and also recognizing rising values—our office is recommended to increase by that $10,000.”
Senior and disabled homeowners will continue to benefit from a 20% homestead exemption available to all Travis County residents. The $110,000 exemption will be applied to eligible households on top of the 20% reduction, Gatlin said.
Homeowners can visit the Travis Central Appraisal District website to apply for an exemption.
Editor's note: This post was update to correct the name of the Travis Central Appraisal District.