EL PASO, Texas (KTSM) – The El Paso City Council unanimously approved increasing property tax exemptions for senior residents and individuals with disabilities.
Nearly 52,000 residents will receive the credit after applying with the El Paso Central Appraisal District. Once approved, the credit will be reflected in tax bills the public will receive in October.
Tuesday’s vote increases exemptions form $40,000 to $42,500. City estimates say seniors and the disabled will save a collective $5 million over the next five years.
“We’ve heard from the public that our senior citizens and persons with disabilities, they are struggling,” District 3 city Rep. Cassandra Hernandez said. “And, this will be another opportunity to listen to their concerns and follow through with supporting them.”
City officials say they are considering a tax rate freeze this year citing concerns from the community about economic impacts caused by the COVID-19 pandemic.
The city is still expecting a $6 million increase in property taxes for the 2022 fiscal year budget. Overall, the city expects to receive $31 million increases in revenues between the 2021 and 2022 fiscal year budgets.