FBMUD 46 Board Votes to Increase Tax ExemptionsMar 30, 2022
With the cost of living going up every day, residents with a fixed income are the hardest hit. When the Board of Directors of Fort Bend County Municipal Utility District No. 46 (”District”) met during their regular March meeting, this was a key topic of discussion when it came to setting the tax exemptions for the 2022 tax year. After reviewing options with the District’s financial advisor and how it could impact both the District and residents, the Board elected to effectively double the homestead tax exemption for those 65 or older or disabled from $10,000 to $20,000 moving forward from the current tax year.
“We are encouraged that with property values of our District appreciating over time, we can increase this exemption now and help ease the tax burden for residents in both of these categories,” said director Shelley Winn.
The District now offers a $20,000 tax exemption for disabled residents and for residents 65 years of age or older, respectively. More information regarding how to apply for the tax exemption can be found by contacting the Fort Bend County Tax Assessor-Collector and the Fort Bend County Appraisal District. Further guidance can be found by reaching out to a licensed tax professional.
The Board of Directors will set the 2022 tax rate later this year once Fort Bend County has certified the values in the District. This increased tax exemption will be reflected on property owners’ tax bills in 2023 for the 2022 tax year.