HomeMy WebLinkAboutOrdinance No. 21-010 Over-65 and Disabled Property Tax ExemptionORDINANCE NO.21-010
AN ORDINANCE OF THE CITY OF UNIVERSITY PARK,TEXAS,TO PROVIDE
AN EXEMPTION ON THE RESIDENCE HOMESTEAD OF AN INDIVIDUAL WHO IS
DISABLED OR AN INDIVIDUAL WHO IS SIXTY-FIVE YEARS OF AGE OR OLDER IN
THE AMOUNT OF FOUR HUNDRED AND TWENTY-FIVE THOUSAND DOLLARS
($425,000.00)ON THE ASSESSED VALUE;AND PROVIDING AN EFFECTIVE DATE.
WHEREAS,the City Council desires to exempt from taxation a portion of the appraised
value of a residence homestead of an individual who is sixty-five years of age or older or an individual
who is disabled,as authorized by the Tax Code,
NOW THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF UNIVERSITY PARK,TEXAS:
SECTION 1.That there is hereby established for the tax year 2021 an exemption from
taxation of four hundred and twenty-five thousand dollars ($425,000.00)of the appraised value of the
residence homestead of an individual who is sixty-five years of age or older or an individual who is
disabled."Disabled"means a person having a disability for purposes of payment of disability
insurance benefits under the Federal Old Age Survivors and Disability Insurance Act.
SECTION 2.This ordinance shall take effect immediately from and after its passage,as the
law and Charter in such cases provide.
DULY PASSED by the City Council of the City of University Park,Texas,on the 18th day
of May,2021.
APPROVED:
TOMMY STEWART,MAYOR
~D;
ROBERT DILLARD,CITY ATTY
ATTEST:
CHRISTINE GREEN,CITY SECRETARY