There is hereby exempted from ad valorem taxes $5,000.00 of the assessed value of residents’ homesteads of married or unmarried persons 65 years of age or older.
(1967 Code, sec. 25-4; 2008 Code, sec. 66-61)
The goods-in-transit, as defined V.T.C.A., Tax Code section 11.253(a)(2), shall remain subject to taxation by the city.
(Ordinance 1030 adopted 12/3/07; 2008 Code, sec. 66-46)
(a)
The total ad valorem tax rate imposed by the city on the residence homestead of qualifying disabled individuals and individuals sixty-five (65) years of age or older shall not be increased to an amount which exceeds the total amount of ad valorem tax rate imposed on that individual’s residence homestead in the tax year following the year in which they reach the age of sixty-five (65) years of age or that they meet the qualifying standards for a disabled individual. If an individual qualifies for the exemption and the residence homestead remains eligible for the exemption for the next year, and if the tax rate imposed on the residence homestead in the following years is less than the amount of tax rate imposed in the qualifying year, the tax rate imposed may not be subsequently increased on the residence homestead above the amount of the tax rate imposed in the first year in which the individual qualified that residence homestead for the exemption.
(b)
The limitation granted herein shall expire if on January 1 of any tax year: (1) none of the owners of the structure who qualify for the exemption provided by section 11.13(c) of the Texas Property Tax Code for a disabled individual or an individual 65 years of age or older and who owned the structure when the limitation provided by this section first took effect is using the structure as a residence homestead; or (2) none of the owners of the structure qualifies for the exemption provided by section 1.13(c) of the Texas Property Tax Code for a disabled individual or an individual 65 years of age or older. If an individual who qualifies for a limitation on ad valorem tax rate or utility rate under this section dies, the surviving spouse of the individual is entitled to the limitation on the residence homestead of the individual if: (1) the surviving spouse is disabled or is 55 years of age or older when the individual dies; and (2) the residence homestead of the individual is the residence homestead of the surviving spouse on the date that the individual dies; and remains the residence homestead of the surviving spouse.
(c)
The provisions of section 11.261 of the Texas Property Tax Code applicable to limitations on ad valorem tax rate to qualifying disabled individuals and individuals sixty-five (65) years of age or older shall govern the administration, transfer, expiration, and application of the limitation granted in this section.
(Ordinance 1160, secs. I–III, adopted 11/19/18)