McKinney increases homestead exemption by $5,000 for residents ages 65 and older, disabled individuals

The city of McKinney announced that Empress Drane will start as the new city secretary on July 2.

The city of McKinney announced that Empress Drane will start as the new city secretary on July 2.

McKinney City Council approved to increase the residential homestead exemption during Tuesday’s meeting from $60,000 to $65,000 for residents ages 65 and older and an individual who is disabled.

Last year, City Council increased the homestead exemption from $50,000 to $60,000.

According to a presentation given at council, for every $5,000 increase in the homestead exemption, eligible homeowners will pay $27 less in taxes at current tax rate and non-eligible homeowners will pay $3.46 more in taxes given the current tax rate. The city’s 2017-18 tax rate is $0.541 per $100 valuation.

By Cassidy Ritter
Cassidy graduated from the University of Kansas in 2016 with a degree in Journalism and a double minor in business and global studies. She has worked as a reporter and editor for publications in Kansas, Colorado and Australia. She was hired as senior reporter for Community Impact Newspaper's Plano edition in August 2016. Less than a year later, she took the role of editor for the McKinney edition.


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