CITY & COUNTY
Harris County seniors receive higher homestead exemptions BY MELISSA ENAJE
HOW IT WORKS The following example of a homestead exemption shows how property taxes owed are calculated based on a home appraised at $300,000 with an exemption of $25,000.
HARRIS COUNTY Commissioners unanimously voted May 16 to increase the homestead exemption for seniors and disabled homeowners. The increase will go into effect for the 2023 tax year for bills that go out in October. The impact: Those who are legally defined as disabled or for those age 65 or older could qualify for an additional $25,000 off the appraised value of their homes. According to Harris Central Appraisal District documents, if residents are over 65 and disabled, they may either receive the over-65 exemption or the disability homestead exemption, but not both. • For those who meet the age or disability requirements, the $25,000 increase raises the 2022 exemption from $250,000-$275,000. • The savings for qualified persons would average $130 per year. Going forward: Reaching age 65 does not automatically exempt senior homeowners from paying property City of Katy kicks off budget season with annual finance report
Appraised value: $300K
Homestead exemption: $25K
Taxable value: $275K
“THE FOOD AT THE DELANEY AT PARKWAY LAKES GETS BETTER EVERY DAY.” – Paul S., Resident
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=
$275K
100
$2,750
=
Property taxes owed
$2,750
=
Tax rate
X
SOURCE: HARRIS CENTRAL APPRAISAL DISTRICT/ COMMUNITY IMPACT
Restaurant-style dining with chef- prepared meals is just one of the many enticing perks residents benefit from at our community located just outside of Houston. Our Preferred Choice Dining TM program offers residents the freedom and flexibility to dine any way they wish, at any time. Residents like Paul like to start their day off with a nutritious and flavorful breakfast, followed by a wide variety of activities and quality time spent with friends enjoying amenities like the fully equipped fitness center and art studio.
taxes, according to HCAD guidelines. • Seniors who need to apply can obtain a homestead exemption form online at www.hcad.org under the “popular forms” tab or by contacting HCAD on weekdays from 8 a.m.-5 p.m. at 713-957-7800.
BUDGET SURPLUSES The city of Katy’s additional fund balance has progressively increased over the fiscal years due to conservative growth projections.
UNASSIGNED FUND BALANCE $30M
BY ASIA ARMOUR
KATY The city of Katy saw year- over-year financial growth in its fiscal year 2022-23 annual compre- hensive financial report. In a nutshell: For FY 2021-22, which ended Sept. 30, 2022, Katy’s net position was $186 million, City Auditor Lupe Garcia said in a May 22 meeting. The city’s total net position increased by $10.2 million year over year. • Net position is calculated by subtracting the city’s liabilities at $53.4 million from its assets at $239.4 million, Garcia said. By the numbers : The report showed conservative revenue projections contributed to the city’s good
To get a taste of our community and schedule a personal tour, call (832) 225-4590 or visit TheDelaneyatParkwayLakes.com
$20M
$10M
$0
21700 Bellaire Boulevard Richmond, TX 77407 AL Facility ID# 106971
SOURCE: CITY OF KATY/COMMUNITY IMPACT
financial standing. • Expenditures of $33.2 million were less than final budgeted expenditures by $3.9 million. • Revenues and other sources exceeded expenditures by $4.9 million.
(832) 225-4590 | TheDelaneyatParkwayLakes.com TheDelaneyatParkwayLakesLIFE@TheDelaneyatParkwayLakes.com
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