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<br />ORDINANCE NO. 2007 -~ <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE <br />CITY OF SAN MARCOS, TEXAS AMENDING <br />CHAPTER 78, TAXATION, OF THE CITY CODE OF <br />ORDINANCES; INCREASING THE RESIDENCE <br />HOMESTEAD EXEMPTION FOR PERSONS 65 OR <br />OLDER; ALLOWING AN EXEMPTION FOR PERSONS <br />WHO ARE DISABLED; ESTABLISHING AN <br />EXEMPTION FOR THE FIRST $25,000 OF VALUE OF <br />THE HOMESTEAD OF PERSONS 65 OR OLDER OR <br />DISABLED; INCLUDING PROCEDURAL <br />PROVISIONS; AND DECLARING AN EFFECTIVE <br />DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council finds it in the public interest to increase the current residence <br />homestead exemption for persons 65 or older and to allow a residential homestead <br />exemption for disabled persons. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br /> <br />SECTION 1. Section 78.77 of the City Code is amended as follows (underlining <br />indicates added text; overstrike indicates deleted text): <br /> <br />Sec. 78.077. Exemption. <br /> <br />(a) A person who is 65 or older or is disabled is entitled to an exemption from city <br />property taxation of$10,000.00 $25.,000.00 of the appraised value of the person's <br />residence homestead. <br /> <br />(b) Eligibility for the exemption is determined as of January 1 of each year. <br /> <br />( c) The exemption must be applied for and must be approved by the chief <br />appraiser of the appraisal district in accordance with state law. <br /> <br />(d) The exemption may not be compounded for j oint or community owners of a <br />single homestead. <br /> <br />(e) An eligible disabled person who is 65 or older ma)T use this e)cemption or ma)T <br />use a disabled person e)cemption, but may not HSe receive both exemptions but may <br />choose either. <br />