North Richland Hills residents can receive a 15% homestead exemption, plus a $36,000 exemption if they are a senior citizen (65 and older) or disabled.
We will use a home valued at $200,000 as an example, which was the average Appraised Value of a single family home in North Richland Hills in 2017. The homestead exemption (15% of the Appraised Value) on this property equals $30,000. This is subtracted from the Appraised Value, making the property's Taxable Value $170,000.
When the homeowner turns 65, they can fill out an application through the Tarrant Appraisal District and receive the senior exemption. This is not in lieu of the 15%, but rather in addition. If a home with the average Appraised Value of $200,000 has both the 15% Homestead and the $36,000 Senior Exemption on the property, the owner would receive total exemptions of $66,000 ($30,000 + $36,000). This reduces the property's Taxable Value to $134,000.
The current tax rate is applied to the Taxable Value of the property. In this example, at a 59-cent rate, the resident would pay $1,003 in city property tax if they have the homestead exemption or $790.60 in city property taxes if they have both the homestead and senior exemption.
To verify if you have the homestead and / or senior exemption in place, contact the Tarrant Appraisal District at 817-284-0024.