City Council increases Keller homestead exemption
The Keller City Council on Tuesday approved a fourth consecutive increase to the city’s homestead exemption, pushing it to 12 percent.
The vote passed just in time to meet the deadline set by Tarrant County to ensure the new exemption can be applied to this year’s tax bills. Put simply, a 12 percent homestead exemption means that homeowners’ taxes to the City of Keller this year will be calculated based upon only 88 percent of their homes’ taxable value. For the average Keller home, the 2 percent increase will mean about $30 in savings.
The homestead exemption bump comes after five consecutive rounds of tax rate reductions, a move city leaders are hoping to repeat for a sixth time later this year once the Tarrant Appraisal District distributes certified values to cities in late July. Council is expected to set the city’s tax rate and vote on the FY 2020 budget at their Sept. 17 meeting.
In addition to the 12 percent homestead exemption and one of the lowest tax rates in the region at $0.41325 per $100 in taxable value, the City of Keller offers a $40,000 exemption for homeowners over 65, a $10,000 exemption for disabled homeowners and an over-65/disabled tax ceiling.