Mansfield homeowners are about to get a little property tax relief.
The Mansfield City Council voted this month to increase the homestead exemption to 12%, a 2% increase. A homestead exemption allows homeowners to save on property taxes by excluding a portion of their home’s value from assessment.
Mansfield first implemented a homestead exemption in 2020 at 10%.
“With rising costs many Mansfield residents are re-examining their budgets and looking for any sort of fiscal help,” Mansfield Mayor Michael Evans said in a prepared statement. “Increasing the homestead exemption is one way we can offer a bit of relief for our homeowners.”
Homeowners who have already received homestead exemptions will see the increase automatically provided. The homestead increase will not affect properties that already receive the over-65 tax ceiling or other freeze exemptions.
With soaring home values, Dallas-Fort Worth property owners have been hit with big property tax bills. In response, some cities, including Dallas and Frisco, have increased homestead exemptions.
To file a homestead exemption, homeowners must apply with their county appraisal district. Mansfield is in Tarrant, Johnson and Ellis counties.