Grand Prairie Expands Homestead Exemption

Post Date:06/19/2017 3:49 PM

Increasing home values in Grand Prairie have prompted the City Council to expand the homestead exemption for 2017 city taxes. Homestead exemptions reduce the appraised value of a home and, as a result, lower property taxes.

The new exemption applies only to homes that are considered a primary residence on January 1 of the tax year. The exemption has expanded a minimum of $5,000, to a minimum of $10,000. This means that the taxable value of the average home with a homestead exemption in Grand Prairie appraised at $150,000, will be reduced to $140,000 in 2017. The exemption (City Ordinance 10258-2017) was passed by the Grand Prairie City Council on May 16, 2017.

Homeowners who are currently receiving a homestead exemption are automatically included in the expanded exemption and do not need to contact the city or county appraisal district. City of Grand Prairie tax bills will be sent out in October 2017. The new exemption will be automatically reflected in the bill.

In addition to the homestead exemption, seniors ages 65 and older qualify for both a ceiling on city taxes and an over-65 exemption, which reduces a home’s taxable value by $45,000. This option is still available for seniors in Grand Prairie.

"The purpose of the expanded homestead exemption is to provide a bigger tax break to the average homeowner in Grand Prairie," said Mayor Ron Jensen. "We're so proud that home values are up in our city, but we also want to maintain a reasonable city tax bill for our residents."

About half of all cities in the Dallas-Fort Worth area offer homestead exemptions. Texas Property Tax Code 11.13(n) allows taxing units to exempt up to 20 percent of the appraised value of a qualified homestead.

For more information on the homestead exemption in Grand Prairie, call 972-237-8099.