§ 18-4. Homestead exemption.

(a)

There is established an exemption of eight thousand dollars ($8,000.00) of assessed value of the residence homestead of persons over the age of sixty-five (65) years on or before January 1, for purposes of taxation as in part provided for in V.T.C.A., Tax Code § 11.13.

(b)

Pursuant to the authority granted by the above referenced constitutional amendment and V.T.C.A., Tax Code § 11.261, the total amount of ad valorem taxes imposed by the city on the residence homestead of a person who is disabled or sixty-five (65) years of age or older may not be increased while such person or that person's spouse who is disabled or sixty-five (65) years of age or older retains the residence homestead exemption on the residence.

(Ord. No. 235-9-84, § 1, 9-4-84; Ord. No. 1114-12-2005, § 3, 12-6-05)