City of Coppell, Texas - File #: 2022-6267

• File #: 2022-6267
• Version: 1
• Name: O65 Exemption Resolution
• Type: Agenda Item
• Status: Passed
• File created: 4/29/2022
• In control: Finance
• On agenda: 5/10/2022
• Title: Consider approval of an Ordinance amending Chapter 1 'Administration', Article 1-15 'taxation', sections 1-15-1 and 1-15-2 of the Code of Ordinances to provide for an annual exemption from ad valorem taxation in the amount of one hundred thousand dollars ($100,000.00) for individuals who are disabled or sixty-five (65) years of age or older; and authorizing the Mayor to sign.

Date	Ver.	Action By	Action	Result
5/10/2022	1	City Council	Approved on the Consent Agenda

Title

Consider approval of an Ordinance amending Chapter 1 ‘Administration’, Article 1-15 ‘taxation’, sections 1-15-1 and 1-15-2 of the Code of Ordinances to provide for an annual exemption from ad valorem taxation in the amount of one hundred thousand dollars ($100,000.00) for individuals who are disabled or sixty-five (65) years of age or older; and authorizing the Mayor to sign.

Summary

See attached memorandum.

Fiscal Impact:

The potential impact on City property tax revenue is a decrease of $344,762.   The exact impact of this increase will not be known until the Central Appraisal Districts provide certified values on July 25 and the property tax rate is adopted by Council in August.

Staff Recommendation:

This agenda item reflects the recommendation made by Council at the April 26, 2022, Council workshop.

Strategic Pillar Icon:

Sustainable Government