Since 1984, Plano has offered tax exemptions for the purpose of providing tax relief needed to encourage preservation and maintenance of the historic structures of the city. Plano Independent School District and Collin College also participate in the city's tax exemption program. Over 80 properties were approved last year for tax exemptions, which resulted in approximately $56,000 in city tax exemptions and $235,000 for all three participating tax entities. Applications for the 2018 program (for new participants and new property owners only) are due Jan. 1, 2018.
Money saved by participating in the program is intended to be used by participant to make improvements and repairs to the structure or site. The Tax Exemption Program offers a partial exemption based on the improvement value of the heritage property. Exemption do not affect any portion of the property taxes related to the land value. Annual tax exemption inspections, conducted as part of the program, verify the structures are being properly preserved and maintained. Learn more about the program, tax exemption classifications and the annual inspections on our Tax Exemption webpage.