Item 19: Homestead Exemptions

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COSM_Admin

Administrator
Staff member
Consider approval of Ordinance 2022-07, on the first of two readings, amending Chapter 78, Taxation, of the City Code of Ordinances; establishing a residential homestead exemption in the amount of $15,000; increasing the residence homestead exemption for disabled persons and persons 65 or older from $25,000 to $35,000; including procedural provisions; and declaring an effective date.
 

COSM_Admin

Administrator
Staff member
Response provided by Anna Miranda, Assistant Director of Finance:
Total Certified values of $6.55 billion increased 16.9% or $948 million from prior year certified values of $5.6 billion. This includes $237.5 million in new property on the tax roll and $1.48 billion within TIF zones, which increased $850 million from the prior year total of $633 million.
 
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