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County Commissioners Freeze SR Taxes in Flower Mound
GOOD NEWS FOR SENIORS & PEOPLE WITH DISABILITIES
WHO PAY PROPERTY TAXES IN FLOWER MOUND
Announced by the News from Lewisville, Flower Mound and Lewisville ISD
Effective immediately on May 14, 2019, a property tax limitation for seniors and people with disabilities was approved by the Denton County Commissioner. This allows those who qualify to seek tax limitations on their property to create a tax ceiling. In plain English, in the following year, if property values were to increase, the ceiling of current property taxes would be set to the lower amount of the two calculations.
The good news is the individual homeowner would not have to pay property tax difference between the "ceiling" amount and a new appraised amount. This will benefit seniors and people with disabilities in addition to a current exemption for people 65 or older of $55,000 and $15,000 for people with disabilities, according to the County Commissioners' news release. Any loss in revenue from the tax limitation is expected to be made up in new property construction.
The Flower Mound Mound Senior Center located at 2701 W Windsor DR in Flower Mound is a great resource for seniors. Something of interest is the OLLI at UNT (Osher Lifelong Learning Institute at ... more
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