Editor's note: This story has been updated throughout to mention the city also increased exemptions for seniors over age 65 and those with a disability at its April 28 meeting.
Conroe City Council approved an ordinance to increase the city's property tax homestead exemption from 2.5% to 20% at its April 28 meeting, bringing relief to Conroe residents who recently received high property value projections, city officials noted.
“[The homestead exemption] is a big win for Conroe today,” Council Member Curt Maddux said in an interview. “It needed to be done, and this is the perfect time for us to get it done. We have done our due diligence and spoken to all the right people, and we feel like this is going to be monumental to all the residents.”
Preliminary values reflect a 36.86% increase in appraisal estimates, and as of March 29, there were 16,426 properties in Conroe with a homestead exemption. The exemption is estimated to give residents a $213.55 tax reduction, and the city will have $3.41 million in lost revenue as a result, according to information from the city.
“We cannot control what the appraisal district does. It's at the state level. But what we can control are two things. One is we can put a homestead exemption, which the state has given us the right to do. ... The second one will happen more toward a budget ... trying to push [the] tax [rate] down to a whole new revenue rate,” Council Member Raymond McDonald said in an interview.
