The rise in property tax bills is no joke. If you live in Texas and have properties for home or business, taxes can be exhausting. With new tax laws revised, are there more choices for property owners?

If you’re looking to learn more about the added options in appraisal value notices in Texas, then read on.

This article discusses improvements in appraisal notices and their effect on your property. Find out more about what these notices are and how they work.

texas property tax

Improve your property’s value by being more knowledgeable about appraisals. Continue reading below for more.

Why the Property Tax Reform (Senate Bill 2) Improved Appraisal Value Notices

Texans have been struggling with the growth of property tax bills. This doesn’t only harm the businesses but personal properties as well. Many homeowners and businesses have closed down and relocated because of increasing taxes.

Thanks to the Property Tax Reform or SB 2, there are property appraisal options added. The SB 2 or Senate Bill 2 gives way for a more sustainable home and business environment. The bill takes off the burden from Texan owners who want to own or profit from their properties.

New Appraised Value Notices That Property Owners Should Be Aware Of

A big change in appraisal value notices is that chief appraisers will be separating real from personal properties. These separations include those below:

  • Listing of taxing units where the property is taxable
  • Property’s appraised value for the previous year
  • The taxable value of the property for the previous year under each taxing unit
  • Property’s appraised value for the present year; this includes the kind and amount exempted from the property.

Not that partial exemptions are also acceptable as long as approved (in the previous and present year). If the partial exemptions are “canceled” in the previous year, it will also be the same for the present year.

Understanding What These Appraisal Value Notice Changes Are

If property owners aren’t using their homestead exemptions, appraising districts should notify them. This is if the property owner is “entitled” to the exemption.

There should also be a “real-time-tax notice” found on appraisal district websites. Property owners should be able to use these sites and see the notices. Property owners should be able to add addresses and see a custom appraised value notice. These include the amount of taxes due on the no-new-revenue-rate and the proposed tax rate. The custom notice should also include the voter-approval rate.

Each taxing unit should have contact information included. This is to help property owners in expressing their support or opposition with the new tax rates.

The bill also reconfigures the notices for more clarity. It now differentiates the appraisal process from the tax-rate setting process.

Why Some Homeowners Get Confused with Property Tax Notices

There has been a running problem with notices in regards to property taxes in Texas. This has gone since 1978, but thanks to the changes in the bill, the action is being taken to correct this. For decades, appraisal notices were required to have the estimate of tax due.

This became too confusing. It was not even accurate for compliance with the state constitution.

The notices sent before were misleading. It was a mix between previous tax rates and current appraisals. It’s no wonder that new homeowners get confused about what they should be submitting.

Owing to these issues, the Texas Legislature worked on reforming proposals. Lawmakers have been willing to improve the bill and to get rid of the estimate of tax due on the notice. It was agreed that tax rates proposed on the notices should be clearer.

This is why when you’ve felt confused before on appraisal notices, it’s understandable. Since the bill imposed better requirements, homeowners will have an easier time.

For more information, you can always ask the help of property tax experts about the changes in the tax reform bill.

 

Your property taxes will be aggressively appealed every year by the #1 property tax firm in the country. If your taxes are not reduced you PAY NOTHING, and a portion of the tax savings is the only fee you pay when your taxes are reduced! Many FREE benefits come with enrollment.