Last August, the Collin College Board of Trustees passed a new residential homestead exemption. This is the first year that qualifying Collin County homeowners will benefit from a reduction in taxes from the exemption. The exemption is equal to the greater of $5,000 or a one percent exemption of the appraised value of a residential homestead.
The college also offers property tax exemptions of $30,000 for residents over 65 years of age and $20,000 for disabled individuals.
“Collin College is pleased to continue its excellent history of sound financial stewardship and value to our community,” said Dr. Neil Matkin, Collin College district president. “In a time of rising property taxes, we are pleased to pass on savings to our taxpayers.”
The college plans to continue to offer the new homestead exemption in future tax years. For more information about the college, visit www.collin.edu.
Collin College serves more than 53,000 credit and continuing education students annually and offers more than 100 degrees and certificates. The only public college in the county, Collin College is a partner to business, government and industry, providing customized training and work force development. In addition, the college operates the Collin Higher Education Center, which serves 3,100 additional students each year in partnership with The University of Texas at Dallas, Texas Woman’s University, Texas A&M Commerce, Texas Tech and the University of North Texas.