EL PASO, Texas (KTSM) —El Paso homeowners who are 65 or older, or living with a disability, could see some extra relief on their next property tax bill.
City Council approved an increase to the City’s homestead exemption for seniors and disabled residents during a meeting on Tuesday, Aug. 5.
It will raise the exemption from $42,500 to $45,000, City officials said. The exemption reduces the taxable value of a qualifying home, which city officials say will save the average homeowner about $342 per year.
“This helps minimize the impact that our seniors and disabled are going to see as a result of the increase on the average value home,” said Robert Cortinas, the City’s chief financial officer and deputy city manager.
Nearly 60,000 homes in El Paso currently qualify for this type of exemption, officials said. The increase will take effect for the 2025 tax year, with savings reflected on property tax bills sent out in October.
“This exemption does come with a cost more than $1 million in property tax revenue the City won’t collect,” Cortinas said. “But we believe it’s a well-intentioned investment for our seniors and disabled residents.”
City leaders say the change is part of a broader plan to provide relief for residents on fixed incomes as property values continue to rise. The City Council is still finalizing next year’s full budget and property tax rate, with additional votes expected later this month.
Homeowners who already qualify for the exemption do not need to reapply. The updated amount will be applied automatically.
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