During its regular monthly meeting, the board of directors for Cinco MUD 14 reaffirmed the district’s property tax exemptions.
MUD board members unanimously voted to renew existing tax exemptions for property owners who are over 65 years of age or disabled.
MUD BOARD VOTES ON TAX EXEMPTIONS – Cinco MUD 14 board members review the district’s property tax exemption policy before voting to renew a $10,000 tax valuation reduction for homeowners over 65 or who are disabled.
As is the case with a number of municipal utility districts serving the Cinco Ranch area, MUD 14 allows $10,000 off the appraised value of homes owned by seniors or the disabled. The district does not have a homestead exemption.
MUD directors also reaffirmed the district’s policy of not accepting partial, or “split,” payments.
The measure came on a unanimous vote. Board Member Josephine Traylor was absent from the meeting.
In other action, the MUD board also authorized the preparation of an identity theft prevention program. MUD boards are being required to establish ID theft programs under guidelines of the federal “Fair and Accurate Credit Transactions Act of 2003.”
Tara Castillo, representing the law firm of Allen, Boone, Humphries and Robinson, told the board the US Treasury, which is responsible for enforcing the act, has promulgated rules that classify any entity that has accounts as a “creditor” under terms of the act.
“Under the law, we are considered creditors,” Castillo told the MUD board. “We need to have a policy in place by May 1.”
The law firm will develop a policy and have it ready for board action at its April meeting.
