Lufkin City Council OKs 10-percent homestead exemption on first vote
LUFKIN, Texas (KTRE) - The Lufkin City Council met and approved a 10-percent homestead tax exemption in a preliminary vote Tuesday night.
This exemption is for primary residences for all citizens and provides an extra tax exemption for all persons 65 or older, as well as for disabled persons.
If a home is valued at $200,000, they are lowering the value to $180,000. If you are 65 years or older or disabled, you get an additional $20,000 reduction.
The council says this tax exemption is to help their citizens out.
“Values are increasing throughout the whole county. We saw it last year, and we are seeing it again this year. It’s obviously a burden on our citizens to pay property taxes because it is a lot of money, right. To live in your home, to own your home. It’s a positive thing from the standpoint that our community is growing and prospering, our value is going up, means good things. People are moving into this area and buying homes. But at the same time, it’s a big expense for our citizens, so we are looking for ways to soften the blow, if you will,” Mayor Mark Hicks said.
The council approved the measure on first reading Tuesday. The measure requires approval on a second reading before it becomes a part of city ordinance.
Future councils can change or appeal this homestead tax exemption.
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