The Woodlands Township board of directors will consider raising its exemption for residents with disabilities or who are 65 and older at its June 28 meeting.
In a nutshell
At the board’s June 22 meeting, the board unanimously approved putting a resolution increasing the exemption on its next meeting agenda.
Last year, The Woodlands Township raised the exemption for homeowners 65 or older or disabled from $25,000 to $40,000, Community Impact previously reported. For fiscal year 2023, the $40,000 exemption totaled $694,600, according to a presentation by President and CEO Monique Sharp at the board’s June 22 meeting. The township’s fiscal year is from January to December.
What else?
- A $50,000 exemption would total $868,200, according to Sharp’s presentation.
- The board may also consider a homestead exemption at its next meeting, but specific details were not discussed at the June 22 meeting.
- The deadline to submit any change in the township’s current property tax exemptions is June 30, Sharp said at the meeting.
- The exemption for homeowners 65 or older or disabled has resulted in $5.8 million of property tax savings since the exemption was first granted in 2011, according to Sharp’s presentation.
Quote of note
“I think we ... have a very healthy bottom line,” Board Chair Ann Snyder said. “I think that our seniors as well as individuals who are challenged deserve every consideration ... that we can afford to do.”
Stay tuned
The Woodlands Township board of directors’ next meeting, at which the exemption increase will be considered, is set to take place June 28 at 6 p.m. at The Woodlands Township, 2801 Technology Forest Blvd., The Woodlands.
