Real estate
BY MIRANDA JAIMES
Home Edition
2024
The Home Edition provides insights into local real estate trends and developments. There’s so much to explore in this year’s Home Edition. Every month we always provide a snapshot of the market for a given month, providing data for year-over-year trends such as median sales prices, average days on the market and the number of new listings. But in the Home Edition we love to dive into these trends and datasets even further. For instance, our cover story focuses on the topic of Grapevine turning to unique residential developments for its downtown area to help ll out its small parcels of remaining space. As the city becomes more built out, residents are more likely to see home prices increase, experts say. Other content in this special section include insight into the local property tax exemptions o ered in our cities and county, as well as a closer look at solar panels and what homeowners need to consider before making a purchase like this. We don’t want to just stop here, though. If you have ideas for topics we need to cover in next year’s Home Edition, or ideas for any future stories, please send them to gcsnews@communityimpact.com.
What's inside
Realtors to undergo changes for selling homes (Page 14)
Miranda Jaimes Managing Editor mjaimes@ communityimpact.com
Explore a new Colleyville development (Page 15)
Nonpro t repairs Grapevine homes (Pages 16 17)
Sponsor: Unique Landscaping
County maximizes property tax exemption for homeowners
Local exemptions The following general exemptions exist for eligible homeowners in Grapevine, Colleyville and Southlake. Appraisal districts can provide a comprehensive list.
The amount homeowners in Tarrant County can exempt from the value of their homes before pay- ing property taxes was increased to the maximum legal limit. What happened Tarrant County commissioners voted unani- mously June 18 to increase the county’s homestead exemption from 10% of a property’s value to 20%. General homestead exemptions are available in Tarrant County to taxpayers who own and reside at a property as of Jan. 1 of the year. Exemptions are also granted to people age 65 or older and home- owners with disabilities. A full list of the types of exemptions available can be found at the Tarrant Appraisal District website. About 406,000 accounts in Tarrant County qualify for homestead exemptions, according to meeting documents. What else? Commissioners also voted to approve a 20% homestead exemption for the Tarrant County Hospital District, which also increased from the 10% exemption commissioners adopted in 2023. Commissioners said o cials with JPS Health Network are in support of this exemption, and they
City exemptions:
7% o home’s value
Colleyville
20% o home’s value
Grapevine
20% o home’s value
Southlake
County exemptions:
The Tarrant County Commissioners Court voted unanimously at the June 18 meeting to increase homestead exemptions for taxpayers.
20% o home’s value
Tarrant County
STEVEN RYZEWSKI COMMUNITY IMPACT NEWSPAPER
SOURCE: TARRANT APPRAISAL DISTRICT COMMUNITY IMPACT
across the state approved during the Nov. 7 election and created a new property tax exemption for child care facilities. To qualify for this exemption, child care facilities must participate in the Texas Work- force Commission’s Texas Rising Star Program and have at least 20% of children enrolled in the facility receive subsidized care provided by the commis- sion, according to meeting documents. With this exemption, it’s estimated that up to $200,000 in savings will be granted to child care providers, according to meeting documents.
expressed con dence in absorbing the additional 10% exemption. The owner of a $350,000 home with both home- stead exemptions would see a reduction of $136.15 in their tax bill, according to a county news release. Also on the agenda Commissioners also approved adopting for the rst time a 50% exemption to property taxes for child care facilities in the county. This comes from Proposition 2, which voters
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