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HomeMy WebLinkAboutResolution 455 A Resolution SENIOR CITIZEN HOMESTEAD EXEMPTION WHEREAS, the State of Texas did authorize a vote of the people on an amendment to the Texas Constitution permitting the exemption of not less than $3,000 of the assessed value of resident homesteads of persons sixty-five years of age or older; and, WHEREAS, such amendment was voted on by the electorate of the State of Texas on November 7, 1972; and, WHEREAS, the required Constitutional amendment was duly adopted by the residents of the State of Texas and carried by a large majority in the City of Fort Worth; and, WHEREAS, the City of Fort Worth implemented the Senior Citizen Homestead Exemption in 1973 at the value of $3,000 per homestead and increased the exemption in 1976 to $4,000; and, WHEREAS, the continued increase in the cost of living has seriously impacted many Senior Citizens who are on fixed income; and, WHEREAS, the City of Fort Worth desires to provide additional relief to Senior Citizens by increasing the Homestead Exemption to $7,000, NOW, THEREFORE BE IT RESOLVED, That the City Council of the City of Fort Worth will, in establishing the 1977-78 Budget, increase the Senior Citizen Homestead Exemption to $7,000 in accordance with the provisions of Article VIII, Section I-b of the Texas Constitution. RESOLUTION FILE NO. �{ bzlel PIT o CITY OF FORT WORTH