GALENA PARK ISD BOARD OF TRUSTEES VALUES HOMEOWNERS – VOTE TO MAINTAIN 20 PERCENT OPTIONAL LOCAL HOMESTEAD EXEMPTION
Monday, June 11, 2012
FOR IMMEDIATE RELEASE
Houston, TX – On June 11, 2012, the Galena Park ISD Board of Trustees approved the continuation of the optional local homestead exemptions for individuals residing in the Galena Park Independent School District for tax year 2012.
Galena Park ISD instituted the optional homestead tax exemption more than 20 years ago to ease the tax burden associated with rising property values for homeowners at that time. Each year the Board of Trustees may establish the residence homestead exemption level of qualified homeowners or they can choose to reduce or do away with it altogether. School districts throughout Texas have found it necessary to discontinue the optional homestead exemption. “In light of the recent financial crisis in America, many districts, because of budget crunches, dwindling fund balances, etc., are forced to find money wherever they can,” noted Joe Stephens, Galena Park ISD Board of Trustees President.
In addition to the state exemptions, the approved exemption schedule for the 2012 tax year allows qualified property owners under 65 years of age to continue to receive a 20 percent optional homestead exemption of the appraised property value. Property owners who are 65 or older receive the 20 percent optional homestead exemption plus an extra $7,400 exemption.
Galena Park ISD has not changed the 20 percent tax exemption since it was instituted. “The citizens are feeling the economic crunch right now, and for us to be able to continue to offer [the optional local homestead exemption] is a true testament to GPISD’s leadership. For years, they have proven to be responsible in their stewardship of the resources with which they are entrusted,” Stephens added.
Jonathan Frey | Interim Director of Communications | email@example.com | 832.386.1231
Story Credits: Jonathan Frey