2018-030 Homestead ExemptionDate: March 9, 2018 Report No. 2018-030
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Homestead Exemption Information
BACKGROUND:
The purpose of this informal staff report is to provide information on the current City of Denton
Homestead Exemption. The requirements for residential homestead and the exemption are
outlined in Chapter 11 of the Tax Code. The City currently has a homestead exemption rate set at
.5% of the property value, with a minimum of $5,000. A property would need to be valued over
$1 million to receive an exemption above $5,000. The table below highlights the previous 5 years
of residential properties that have the homestead exemption.
City of Denton
Homestead Exemption
Tax Years 2013-2017
2013 2014 2015 2016 2017
Number of Single
Family Residences 26,124 26,829 27,415 28,080 28,680
Total Market Value $3,720,193,268 $4,062,595,350 $4,455,409,227 $5,050,316,875 $5,711,426,395
Number of
Homesteaded
Residences 17,111 17,427 17,781 18,297 18,890
Homestead
Exemption Value $83,466,451 $84,697,967 $86,502,404 $88,848,080 $91,671,530
Total City Tax Rate 0.68975 .68975 .68975 .68334 .63786
Exempted Revenue $575,710 $584,202 $596,650 $607,134 $584,736
If the Council desires to increase the homestead exemption, the Council must adopt the ordinance
to increase the exemption no later than July 1, 2018 to be effective for next year. In order to have
an increased homestead exemption appear on Denton residential tax bills, Council must adopt the
increased exemption by March 23, 2018.
Staff will include a Homestead exemption discussion during the June 5, 2018 Council Work
Session on Preliminary Ad Valorem values and 5 Year Forecast. Please let us know if the Council
desires to discuss this matter earlier than suggested above.
If you have any questions or need additional information, please contact Tony Puente, Director of
Finance.
Date: March 9, 2018 Report No. 2018-030
ATTACHMENT(S):
Denton County Appraisal District Exemption Letter
Homestead Exemption Comparison
STAFF CONTACT:
Antonio Puente, Jr., Director of Finance
(940) 349-7283
Antonio.Puente@cityofdenton.com
City/Town Percent Minimum
Argyle 1%5,000
Aubrey - -
Austin 8%5,000
Bartonville - -
Carrollton 20%5,000
Celina - -
Colony - -
Coppell 5%5,000
Copper Canyon 1%5,000
Corinth - -
Dallas 20%5,000
Denton 0.5%5,000
Dish 20%5,000
Double Oak - -
Draper (FKA Corral City)- -
Flower Mound - -
Forth Worth 20%5,000
Frisco 7.5%5,000
Ft Worth 20%5,000
Grand Prairie 1%10,000
Grapevine 20%5,000
Hackberry - -
Haslet 20%5,000
Hickory Creek - -
Highland Village - -
Justin - -
Krugerville - -
Krum - -
Lake Dallas - -
Lakewood Village - -
Lewisville - -
Little Elm - -
McKinney - -
Northlake - -
Oak Point - -
Pilot Point - -
Plano 20%5,000
Ponder - -
Prosper 10%5,000
Providence Village - -
Homestead Exemption
Homestead Exemption Comparison
City/Town Percent Minimum
Homestead Exemption
Homestead Exemption Comparison
Roanoke 20%10,000
Sanger - -
Shady Shores 1%5,000
Southlake 20%5,000
Trophy Club - -
Westlake - -