10-24-05 Regular Meeting of Fiscal Affairs Committee Minutes

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C~ C~ Green, Shannon From: Alexander, Cynthia Sent: Monday, November 14, 2005 9:24 AM To: Green, Shannon Subject: FW: Kilgore: city looking at new tax exemption For audit committee. c Original Message Sent: Sunday, November 13, 2005 1:49 PM Subject: Kilgore: city looking at new tax exemption City looking at new tax exemption By BRENDA ALLUMS newsl@kilgorenewsherald.com An ordinance that will give an additional tax break to residents 65 and over and a new tax break to disabled citizens is being drafted by city employees and is expected to be presented to city commissioners for approval at their next meeting. Assistant Director of Finance Lawanna Chrisman presented information to commissioners recently on what a local exemption for the disabled and an increase to the over 65 exemption would do to the city's tax revenue. Representatives of Kilgore's senior community have appeared at several commission meetings, asking the city to freeze property taxes for senior and disabled citizens. Kilgorite Betty Alder asked the commissioners for tax relief for senior citizens and citizens with disabilities. "I'm asking you to freeze property taxes for disabled people,"she said. "I'd also like you to add a local option exempting disabled property owners." Alder pointed out, "Other cities and school districts smaller than Kilgore have given tax relief to disabled property owners." Mayor Joe T. Parker told her city staff would look into the matter. Following that meeting Chrisman was charged with collecting data on possible avenues of action the city could take to help residents over 65 and disabled citizens. Chrisman and other city personnel are working on an ordinance granting the additional tax breaks. Chrisman said if the city decides to increase the over-65 local option from $11,250 to $15,000 and keep the 20 percent homestead exemption, it would reduce city's tax