Sugar Land City Council recently voted to raise the residential homestead exemption for the 2019 tax year to 12%.
The increase offsets the residential impact of a planned tax rate increase of approximately 1 cent to fund the remaining parks bond projects approved by voters in November 2013.
The inclusion of the final phases of the voter-approved parks bond projects and the use of the homestead exemption to offset the residential impact of the resulting tax rate increase is part of a larger "Sugar Land Way" strategy -- a commitment to bold and thoughtful thinking designed to make life sweeter and more refined for the people and businesses that call Sugar Land home.
"The strategy allows the city to move forward with fulfilling its commitment to implement voter-approved projects within five to seven years from the election while also rebalancing the residential share of the overall tax burden -- a recognition that residential revaluation has outpaced commercial value growth in recent years," said Mayor Joe R. Zimmerman. "The projects will be completed with no additional tax impact to our residents because the Sugar Land City Council increased the homestead exemption to 12 percent from 10 percent. Going into the fiscal year 2020 budget process, our priorities are to ensure that the upcoming budget reflects the priorities our residents have told us are important to them, builds trust within the community and inspires pride in our hometown."