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Updated Property Tax Information for Texas Taxpayers

Whether a homeowner, business owner, disabled veteran or taxpayer, it’s important to know your Property Taxes rights and exemption for tax relief information concerning the Texas tax laws:

Exemptions for disabled veterans

Partial exemptions for any property owned by veterans who are disabled, surviving spouses and surviving children of deceased disabled veterans, including homesteads donated to disabled veterans and their surviving spouses by charitable organizations at no cost. The exemption is determined according to the percentage of service-connected disability. Also, the law provides a 100% homestead exemption for 100% disabled veterans and U.S. armed service members killed in action and their surviving spouses.

Exemptions for Non-Profit organizations

Organizations that meet statutory requirements may seek property tax exemptions. Businesses that receive tax abatements granted by taxing units; ship inventory out of Texas that may be eligible for the Freeport exemption; store certain goods in transit in warehouses that are moved within 175 days; construct, install or acquire pollution control property; own and operate energy storage systems; convert landfill-generated gas; or store offshore drilling equipment while not in use may also be eligible for statutory exemptions.

Homestead exemptions

Homestead is the home and land used as the owner’s principal residence, and a homestead exemption reduces the appraised value of the home and, as a result, lowers property taxes.

Productivity appraisal

 

Land used for timber land production, agricultural purposes or wildlife management can be granted property tax relief, which may result in a lower appraisal of the land based on how much the taxpayer produces, versus what the land would sell for on the open market.

 

Residence homestead tax deferral

Texas homeowners may postpone paying the currently delinquent property taxes due on the appreciating value of their homes. This tax relief allows homeowners to pay the property taxes on 105% of the preceding year’s appraised value of their homestead, plus the taxes on any new improvements to the homestead. The remaining taxes are postponed, but not cancelled, with interest accruing at 8% per year.

 

Property tax deferral for persons age 65 or older or disabled

Texan property owners who are age 65 or older or disabled, may postpone paying current and delinquent property taxes on their homes by signing a tax deferral affidavit. Once the affidavit is on file, taxes are deferred, but not canceled, as long as the owner continues to own and live in the home. Interest continues to accrue on unpaid taxes.

Protesting property appraisal values

Property owners who disagree with the appraisal district’s appraisal of their property for local taxes or for any other action may protest their property value through tax consultants to the appraisal district’s ARB.

Blog Author

Patrick O’Connor, MAI, Owner and President
Patrick O’Connor has been active in reducing property taxes, providing expert witness testimony and appraising commercial real estate property since 1983. Pat is active in publishing analyses and data with respect to the real estate market, while being a highly regarded media spokesperson for the real estate community. He holds a MAI, the highest achievable designation from the Appraisal Institute, and is a licensed senior property tax consultant. Pat earned a Master of Business Administration from Harvard University. In 2001, he authored the first definitive consumer guide to Texas property taxes, Cut Your Texas Property Taxes.

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