FORT WORTH, Texas — Of the top five largest cities in Texas, Fort Worth offers the lowest homestead exemption for homeowners who are disabled or older than 65, a new report found.
Fort Worth offers those 65 and older or disabled $80,000 off their property tax bill. The City Council voted to increase the exemption this year. In two years, the council has doubled the exemption, from $40,000 to $80,000. Still, a new report from city staff shows that Fort Worth lags behind other major cities.
Houston, Austin, San Antonio and Dallas offer higher homestead exemptions for disabled homeowners and those 65 and up, the report shows.
Fort Worth offers every exemption allowed under state law including local homestead exemptions, 65 and older and disabled person exemptions and childcare exemptions. Fort Worth already offers the maximum exemption for its local and childcare exemptions, the report states.
"Continuing to increase the over 65 and disabled person exemption amount is one way in which Fort Worth could offer additional tax relief," the report reads.
Of the top five most populous cities in Texas, Houston offers the biggest exemption.
Fort Worth City Council may discuss ways to provide additional property tax relief to residents at 1 p.m. Tuesday, Oct. 8 in a work session.
If the city were to increase the available exemption, some homeowners may be unaffected because Texas law allows seniors to freeze their tax bill after they turn 65, the report states.
"Though Fort Worth is taking advantage of all available exemptions, direct relief to property owners is just one method of reducing Citywide tax burdens," the report reads. "The tax bills which Fort Worth residents and business partners pay depend on countless interconnected policy decisions, programs, and macroeconomic factors.
