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Tax Limitation Proposition

1/12/2017 12:00:00 AM

There will be a proposition on the ballot of the May 6, 2017 election to consider authorizing a ceiling or limitation on the City of Denton ad valorem tax levy for persons who are disabled and persons sixty-five (65) years of age or older who receive a homestead exemption. 

DENTON, TX, Jan. 12, 2017 – There will be a proposition on the ballot of the May 6, 2017 election to consider authorizing a ceiling or limitation on the City of Denton ad valorem tax levy for persons who are disabled and persons sixty-five (65) years of age or older who receive a homestead exemption. 
 
On November 30, 2016 a petition was submitted regarding a tax freeze for persons who are disabled and persons sixty-five (65) years of age or older who receive a homestead exemption. This petition was certified as having met the requirements of the City Charter on January 3, 2017. Per Article 8, Taxation and Revenue, of the Texas Constitution, upon receipt of a petition signed by five percent of the registered voters of the city, the governing body shall call an election to determine by majority vote whether to establish a tax limitation. The City Council called the special election on January 10, 2017.
 
The tax limitation would set a maximum property tax dollar amount that would be paid to the City from owner-occupied properties of those that are over sixty-five (65) or disabled under the law. The maximum tax amount is set in the tax year in which the limitation is enacted and is based on the actual tax paid after any other exemptions are taken, such as a homestead or over sixty-five (65) exemption. Once approved, the limitation is permanent and cannot be rescinded.
 
Learn more about the tax limitation proposition and estimated fiscal impacts.