Northlake homeowners aged 65 and older, and disabled homeowners of any age, will soon see their property tax bill go down.
Northlake’s Town Council voted unanimously on Thursday to increase the homestead exemption on town taxes from $100,000 to $200,000 for the elderly and disabled.
This means eligible property owners won’t pay Northlake taxes on the first $200,000 of their property value.
As Northlake Mayor Brian Montini introduced the resolution for a vote, he laid out three options that had been presented to Town Council:
- Option 1: Increase the exemption to $125,000
- Option 2: Increase the exemption to $150,000
- Option 3: Increase the exemption to $200,000
Without discussion, Council Member Josh Pezzuto made the motion to approve the third option.
The town estimates that the tax cut will result in a $135,000 decrease in tax revenue. That’s a drop of less than two percent based on last year’s revenue. According to the most recent financial reports, Northlake collected almost $8 million in property taxes in FY 2024.
“Tax relief,” announced Council Member Alex Holmes following the unanimous vote.
“Tax relief for Northlake residents,” replied Mayor Montini.
