Residents age 65 and older who already have a homestead exemption will now be able to claim a $50,000 exemption after the Montgomery County Commissioners Court approved raising it from $35,000 during its March 28 meeting.
“What you have before you is an analysis of increasing the over [age] 65 [exemption] from $35,000 to $50,000,” Tax Assessor-Collector Tammy McRae said during the item discussion. “And you can see it’s a savings to the taxpayer[s] of approximately $2.7 million. This is based on the 2022 data.”
McRae said the county has just over 49,500 accounts for residents over age 65.
Residents can apply for the age 65 and over exemption by way of their homestead exemption.
“When you apply for your homestead exemption, you have to provide a copy of your driver’s license,” McRae said. “The appraisal district is automatically supposed to add the [age] 65 [and over] exemption when you turn age 65. I always tell everyone [to] go ahead and apply anyway just to ensure that you get it.”
McRae and her office staff are holding property tax workshops throughout late March and early April, Community Impact previously reported.
Other court actions
During its March 28 meeting, the Montgomery County Commissioners Court approved Aug. 8-11 as budget workshop days to discuss the upcoming fiscal year.