New Tax Exemption for Grayson Co

6-27-06 Some Grayson County taxpayers will get an additional break on residential property taxes.

On Monday, commissioners adopted a residential homestead exemption, which allows homeowners to exempt 20 percent of their home's appraisal value.

If your home is worth $100,000, that comes out to an annual savings of about $100.

You do not have to apply with the appraisal district. It is automatically deducted and will appear on your October billing.

Commissioners passed the optional homestead exemption to counter rising appraisal rates countywide. The rise has pushed Grayson County's taxable value over half a billion dollars.

The change doesn't impact the exemption for school taxes which is at $15,000 in Texas.