Historic Neighborhood Improvement Zone (HNIZ) Historic Home Tax exemption

Is Your Home Eligible?

A homes eligibility is based on its location, age, and condition. First, it must be a minimum of 50 years of age. Second, it must be within the designated boundary. This boundary extends beyond the normal McKinney Historic District. This means a house can be eligible even if it is not on a street designated with a  brown colored street sign.  Thirdly, a house's exterior must be, for the most part, unaltered from the original, or if it has been, the alteration must be in keeping with the architectural style of the home. 

How Much is the Tax Break?

Eligible homeowners are exempt from City ad valorum taxes for ten years. The City's property tax rate is about .5% of a home's appraised value. This means a home with a $400,000 appraisal will save $2,000 annually when it is granted an exemption. This exemption only applies to City taxes. It does not exempt the property from County, Collin College, and MISD taxes. 

How to get the Historic Home Tax Exemption.

The application process is divided into two parts. In fact, it is actually two separate applications. One application is for the Historic Marker designation. The other is for the Tax Exemption. A home must received a historic marker designation before it can be eligible to receive the tax break. Click on the links in this paragraph for more information. 

I Can Help.

I have prepared applications for dozens of McKinney homeowners so their homes can receive the Historic Marker designation and the subsequent City tax exemption.