Title
Discuss and consider action approving a resolution of the City of Pflugerville increasing the real property valuation exemption for disabled persons.
Summary
The current property tax exemption for disabled persons is $35,000. This resolution increases the exemption to $50,000
Financial Impact
City projected revenue reduction:
FY24: $21K
FY25: $27K
FY26: $33K
FY27: $38K
Increasing the exemption from $35K to $50K would reduce the city taxes paid on a $300K home by an additional $73 per year.
Prior City Council Action
September 22, 1998 City Council passed a resolution creating an exemption for disabled persons at $35,000
Deadline for City Council Action
Deadline to increase property tax exemption for the 2023 tax year is July 1, 2022
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budgeted Item: Yes _X_ No __ N/A __
Amount: see table above
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: 06/21/2022
Supporting documents attached:
Disabled Adults Tax Exemption Resolution
Recommended Action:
Approve a resolution of the City of Pflugerville increasing the real property valuation exemption for disabled persons.