Bellville, TX — In their June 24, 2024, meeting held at the Austin County Courthouse, the Austin County Commissioners Court approved significant changes to the county’s property tax exemption rates. This meeting addressed the need for adjustments in the homestead exemption rates and specific exemptions for senior citizens and disabled residents.
The current homestead exemption rates were inconsistent, with one category at 2% and the other two at 1%. To rectify this, the Commissioners agreed to set a uniform rate of 2% across all categories. This change ensures a more equitable distribution of tax benefits among homeowners. Notably, the 2% homestead exemption cannot be reduced but allows room for future increases if needed.
A significant part of the discussion focused on exemptions for residents over 65 and those who are disabled. Currently, these residents receive a $7,000 exemption. The court considered increasing this exemption to either $25,000 or $50,000, ultimately deciding to raise it to $25,000. This move aims to provide more substantial financial relief to those on fixed incomes, who are among the most vulnerable.
The Commissioners highlighted the impact of these exemptions on the county’s taxable values. Homestead exemptions effectively lower taxable values, which the state accepts without penalizing the county for undervaluing properties. This reduction in taxable values comes at a time when property values in Austin County have been rising significantly, with a $1 billion increase two years ago, a $1.5 billion increase last year, and nearly a $750 million increase this year.
Tax rate considerations were also a critical topic. As property values increase, the tax rate should theoretically decrease to balance out the overall tax revenue. However, the Commissioners noted the complexity of this adjustment and the importance of providing tax relief to those most in need. The adjustment in the over 65 exemption helps mitigate the impact of rising property values on senior citizens and disabled residents.
By approving these changes, the Commissioners ensure that the county can continue to provide necessary services without exceeding the voter-approved tax rate of 3.5%. This balance allows for future adjustments if property values continue to rise.
The motion to standardize the homestead exemption rates at 2% and increase the over 65 exemption from $7,000 to $25,000 was made by Commissioner Lamp and seconded by Commissioner Reeds. The motion passed unanimously.
These changes will be communicated to the appraisal district to ensure they are implemented promptly. Residents can expect the new exemption rates to take effect, providing much-needed financial relief to many homeowners in Austin County.
For more information, residents are encouraged to contact the Austin County Courthouse or visit their website.
Contact:
Austin County Courthouse
One East Main, Bellville, Texas 77418
Phone: (979)865-5911
Website: www.austincounty.com
