County Commissioners Freeze SR Taxes in Flower Mound

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

 

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 the University of North Texas). They offer classes, events, and trips designed by and for adults 50 years old and up. They welcome curious minds, people who love to talk to other humans in person, adventurous hearts, and fun students. For more information visit olli.unt.edu

 

SENIORS IN FLOWER MOUND ARE LIFELONG LEARNERS

AND THEY ARE AS MUCH FUN AS THE KIDS THEY

WERE IN GRADE SCHOOL THROUGH HIGH SCHOOL

 

 

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Rainmaker
2,519,075
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That is a wonderful development for seniors and those with disabilities in Flower Mound, Patricia.  Here in California, we have prop 8 that helps all homeowners a little bit, even though there are small increases that can occur each year.

Jun 06, 2019 02:22 PM #1
Rainmaker
1,201,749
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Patricia Feager, MBA, CRS, GRI,MRP - I certainly love this idea for Seniors and those with disabilities.  This is what a responsible government should do for a population that may be on a fixed income.  I hope this catches on for other areas. 

I remember my parents having a conversation saying they might have to sell their home because the taxes were getting to high. The value of homes was skyrocketing and so a man named Howard Jarvis pushed for Prop 13 and it passed. My parents never worried about their home again.  Arizona also does well in this area. 

I have always wanted to understand property tax in detail because of that. I didn't ever want the problem of having to sell my home because of property tax. 

Jun 06, 2019 04:33 PM #2
Rainmaker
3,058,733
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kudos to your County Commissioners, Patricia. We don't see this in NC and increasing taxes on increased valuations pose quite a burden for seniors who are on fixed incomes.

Jun 07, 2019 04:37 AM #3
Rainmaker
2,518,361
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

That is great news and I am sure the tax break will definitely be appreciated by those that qualify for it.

Jun 07, 2019 06:15 AM #4
Ambassador
3,782,982
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patricia that is great news for those who qualify.  A tax break is always welcomed.

Jun 07, 2019 02:38 PM #5
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