Laserfiche WebLink
chooses to increase the exemption level to $10,000 for the 2007 fiscal year, Corinth <br />would Zose about $22,836. <br />"That's not much in the big scheme of things,"Mayfield said. <br />With the cost of lining rising, from gas to electricity to water, seniors who don't have an <br />increasing income need some relief, Mayfield said. <br />"In this economy, people on a fixed income are having challenging times," said Mayor <br />Vic Burgess. "The gross impact is a few thousand dollars in our city. And of course, you <br />have to apply for the exemption. It's not automatic." <br />The additional loss of revenue will have to be addressed by the council in the future, <br />Petty said. <br />"It will apply in the tax program for 2006-07, so at that time, I'm sure they'll evaluate <br />the amount of money collected on that tax rate, and they'll simply have to make <br />adjustments," he said. "Growth could simply offset it. If not, they'll simply have to <br />adjust." <br />Mayfield is the only council member who is 65 or older. Mayor Vic Burgess recently <br />turned 64. <br />"I'm just trying to look out for the older people,"Mayfield said. "I really think we should <br />follow suit and try to have the same tax relief as other cities in our area." <br />JOSHBAUGH can be reached at 940-566-6881. His a-mail address is <br />jbaugh@dentonrc.com. <br />AREA CITIES' EXEMPTIONS <br />The chart below shows the amount of exemptions given by several cities in Denton <br />County to their property owners who are 65 or older. <br />City Exemption amount <br />Aubrey $10,000 <br />Corinth $5, 000 <br />Denton $25,000 <br />Justin $5, 000 <br />Krum $6, 000 <br />Lake Dallas $10,000 <br />