Could Tarrant County add a homestead exemption? Leaders will consider the idea
Tarrant County does not offer a homestead exemption, but the possibility could be near.
County Judge Tim O’Hare wrote on Twitter Thursday evening the Tarrant County commissioners would be adding the item to a meeting agenda to try to make one happen.
Counties can offer up to 20% homestead exemptions under state law.
“Tarrant County currently doesn’t offer one,” he wrote. “Currently.”
Fort Worth, Arlington, Keller, North Richland Hills and Southlake offer 20% exemptions, and school districts have the state mandated $40,000 exemption.
With a 20% homestead exemption, the owner of a home appraised at $300,000 would save $135 based on this year’s tax rate.
O’Hare’s wish comes as state leaders advocate for an increase in the state’s homestead exemption that could save taxpayers $400 a year. One plan would increase the school exemption by $30,000.
In his campaign for Tarrant County judge, O’Hare advocated for cutting the county’s property tax rate by 20%.
O’Hare said in a statement provided to the Star-Telegram by his spokesperson that he has advocated for as much tax relief as possible since the beginning of his campaign.
“I have continued, as County Judge, to make good on my campaign promise to fight for significant tax relief,” O’Hare’s statement continued. “Implementing a homestead exemption is an important step in that effort.”
Commissioner Gary Fickes said he was “all for lowering taxes.”
While Fickes supports a homestead exemption, he wants to make sure it would not negatively affect the county’s bond rating and county operations. Creating a homestead exemption could result in some program cuts, he said.
“You got to pay for that somewhere,” Fickes said.
Commissioner Manny Ramirez said the county was in discussions about what a homestead exemption could look like economically, but said he believed the county should be looking into every way it can save taxpayers money.
In his tweet, O’Hare said he wanted to put the homestead exemption on the agenda before April 1. Ramirez thinks county officials won’t discuss the item until mid-April.
Commissioners Roy Charles Brooks and Alisa Simmons didn’t immediately return phone calls for comment Friday morning.
This story was originally published March 10, 2023 at 12:00 PM.
