The Cypress-Fairbanks ISD Board of Trustees approved a resolution to continue the residence homestead exemptions for CFISD residents for the 2015 tax year during the regularly scheduled Board meeting on May 11.
CFISD is among a select group of Houston-area school districts that offer a 20-percent Local Optional Homestead Exemption to all resident homeowners. Coupled with a state-mandated $15,000 homestead exemption, CFISD residents pay less per year than residents of most neighboring districts on homes of the same value.
The district also offers local exemptions of $15,000 apiece for both property owners who are age 65 or older or disabled. These residents qualify for an additional $10,000 state-mandated exemption.
CFISD property owners will continue to benefit from the following homestead exemptions for the 2015 tax year:
State Mandated (all homesteads) $15,000
State Mandated (age 65 and older) $10,000
State Mandated (disabled) $10,000
Local Option (age 65 and older) $15,000
Local Option (disabled) $15,000
Local Option Percentage (all homesteads) 20 percent