CEDAR PARK, Texas — The City of Cedar Park announced Thursday that homeowners will see property tax relief in the form of a homestead exemption on their appraised home value on their next property tax bill.
According to the city, the council adopted a one percent homestead exemption with a minimum amount of $10,000 to lessen the impact of property taxes. However, the state law provides a floor for the homestead exemption amount of $5,000.
"The Williamson Central Appraisal District had accepted Cedar Park’s new homestead exemption as adopted, but the Travis Central Appraisal District reduced the floor to $5,000," the city said.
The Texas Attorney General reviewed the exemption Cedar Park issued and said the city "does not have the authority to increase the homestead exemption’s floor above $5,000."
Cedar Park homeowners are still set to receive the city's homestead exemption that deducts at least $5,000 from the appraised value of their home for their taxes.
“The Council wanted to direct more property tax relief to homeowners than this. But in spite of the State’s limitations, we’re glad we at least got the city’s first-ever homestead exemption in place. It was a council priority, and we can build on it. We also just cut our property tax rate for the sixth year in a row, to the lowest it’s been in 16 years,” said Cedar Park Mayor Corbin Arsdale.
Arsdale said Cedar Park will continue to explore more property tax relief opportunities in the future.
