This week, the Argyle Town Council unanimously approved an ordinance to freeze homestead taxes for qualified people who are 65 and older or those with disabilities.
The actual dollar amount paid to the town in the year the freeze is enacted remains the same for the lifetime of the qualified individual, according to town documents. The freeze will be enacted Jan. 1, 2022.
The freeze can also be extended to the qualified individual’s surviving spouse. In the event a qualified homestead is improved (other than normal repairs or maintenance), the tax ceiling may go higher because of the new additions. For example, if a garage or game room is added to the house after the tax ceiling is established, the ceiling will be adjusted to a higher level to reflect the value of that addition.
Many other towns and cities in the area already have such a tax ceiling in place.