The city of Fair Oaks Ranch officially bumped up its tax exemption for senior residents and introduced a tax exemption for disabled residents. Additionally, a tax freeze will be placed on the value of disabled residents.
After weeks of discussion and consideration, the FOR City Council increased the property tax exemption for residents over age 65 from $20,000 to $50,000 and introduced a tax exemption for disabled residents – who qualify – at either 10 percent or $50,000, depending on which is greater. The $5,000 homestead exemption already in place will remain.
During its most recent meeting this month, the second reading of the ordinance amendment took place. It nearly passed during the council’s previous meeting until it was decided to remove the 10 percent exemption for older residents after several councilmembers noted their goal was to match the FOR “founding fathers’” intended on this, too – on the fire station, we’re really not ready to make a decision on that right now, correct?
