Tarrant County

Tarrant County increases homestead exemption to maximum allowed by state law

After adding a 10% homestead exemption last year, county commissioners increased the exemption to 20%

NBC 5 News

The Tarrant County Commissioners Court says they're increasing the homestead property tax exemption approved for homeowners last year from 10% to 20%.

Last year, the commissioners court approved a 10% homestead exemption for both Tarrant County and the Tarrant County Hospital District for the first time. This year they voted to increase the exemption for both to 20%.

County Judge Tim O'Hare said on X the exemption, which will be reflected on next year's property tax bill, is the largest allowed by state law.

According to the county's latest tax rates and exemptions, the tax rates for both JPS and the county are $.194500 per $100 of valuation. The owner of a $350,000 home with a 20% homestead exemption would see their taxable value drop $70,000 to $280,000. That would reduce their tax bill by $272.30 as each bill for the county and hospitals dropped $136.15 from $680.75 for a $350,000 home to $544.60 for a $280,000 home.

Approximately, 404,000 accounts in Tarrant County qualify for homestead exemption, according to county commissioners.

The Tarrant County Commissioners Court also approved a property tax exemption for properties housing childcare facilities. The new exemption came after Texas voters approved Proposition 2 last November, which created a new property tax exemption.

O'Hare said last year he planned to reach out to every other taxing entity in the county, there are about 80 of them, to encourage them to lower property taxes in their jurisdictions. Optional homestead exemptions must be approved by taxing entities before July 1 to apply to the tax year.

See a list of current Tarrant County tax rates and exemptions here.

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