PILLAR: Growing
AGENDA DATE: March 25, 2026
COUNCIL DISTRICT(S): 14
DEPARTMENT: Department of Planning and Development
PRIORITY: Government Efficiency
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SUBJECT
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Authorize a historic preservation tax exemption for tax revenue foregone estimate of $9,914.00 annually for a ten-year period in a total estimated revenue foregone of $99,143.00 for the property at 4940 Worth St. in the Munger Place Historic District on 100 percent of the land and structure value - Estimated Revenue Foregone: General Fund ($72,028.00) and Debt Service Fund ($27,115.00) over a ten-year period
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BACKGROUND
Article XI of the Dallas Development Code established a program for Historic Preservation Tax Exemptions and Economic Development Incentives for Historic Properties ("Program"), which allows property owners to receive tax exemptions for restorations of historic properties. The Program was established in October of 1993 and was most recently renewed on December 1, 2025. Dallas Development Code Section 51A-11.201(e) requires City Council to review any exemption over $50,000.00. The City Council may approve or deny any portion of the exemption over $50,000.00.
The main structure on property 4940 Worth Street is a single-family house that was built in 1905 and is a contributing structure in the Munger Place Historic District.
The 2025 Dallas Central Appraisal District (DCAD) appraised value for the 4940 Worth Street account is $559,590.00, with an improvement in value of $302,190.00 and land value of $257,400.00. The applicant is, therefore, required to invest approximately $151,095.00 in the property to qualify for the exemption. As of September 1, 2025, the applicant has spent an estimated $859,176.00 on eligible items.
The new value after completion is estimated to be $1,418,766.00, with an estimated annual tax assessment of $6,004.00. It will take the City six years to recoup the revenue foregone.
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