What are the homestead and senior exemptions?

What is a homestead exemption? 
It’s a discount applied to the appraised value of your home. In 2022, the City Council increased the homestead exemption to 20%. Previously, the city’s homestead exemption was 15%. Under the 20% exemption, homeowners’ taxes to the city will be based upon only 80% of their home’s appraised value.  

Is there a Senior Exemption? 
Yes, homeowners can also receive a senior exemption when you turn 65. The senior exemption is in addition to the homestead exemption that is available to homeowners of any age. The exemption lowers the taxable value of your property and the amount of property taxes you owe. For example, on a home valued at $200,000 the 20% homestead exemption from the city reduces the home's Taxable Value to $160,000. If you also receive the senior exemption, the Taxable Value is reduced by another $36,000 to $124,000. The city's property tax rate is applied to the $124,000 Taxable Value to determine the amount of taxes you owe to the city. Other taxing entities also offer a senior exemption. You can learn more on our Senior Exemption / Freeze page

Not sure if you have a homestead and / or senior exemption on your property? You can check your status with the Tarrant Appraisal District at https://www.tad.org/ or give them a call at 817-284-0024. Once you have an exemption, it will stay with you as long as you own the property. You do not need to reapply each year.

Show All Answers

1. What is the city's property tax rate?
2. Who authorizes the city’s property tax rate?
3. How is city property tax revenue spent?
4. What is the breakdown between maintenance and operations and debt service?
5. How much does the average NRH homeowner pay in city property tax?
6. How will my tax bill compare to last year?
7. Why do some other nearby cities have a lower property tax rate?
8. What are the homestead and senior exemptions?
9. What would be the result if NRH's property tax rate were further reduced?
10. Why does my property value increase every year?
11. Can I protest my property value?
12. How do my City property taxes compare to other taxes I pay?
13. How is the senior / disabled tax ceiling applied?