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  Property taxes are a burden for many taxpayers. Unfortunately, it’s an extra added burden for seniors in Texas. But Texas has given many exemptions and other ways to reduce property taxes of senior residents.  OVER 65 HOMESTEAD EXEMPTION The over-65 homestead exemption can permanently freeze the total amount that is necessary for paying school property taxes. When you have applied for an over-65 homestead exemption, school property taxes will be freezed at the particular rate when you are applying for an exemption.  The property taxes may only increase if you are renovating your property or adding more value to it. Replacing expensive things like HVAC units or lights will not add to your property tax bill. Seniors who opted for over 65 exemption can take the opted exemption to anywhere within texas. FROZEN SCHOOL TAXES PERCENTAGE Once seniors opt for homestead exemption, the school taxes are frozen at the same rate of the year they applied for. For instance, the assesse...

  Most homeowners pay a lot of property taxes. Property taxes cannot be avoided but there are a few tricks that can help you see a lower amount on your property tax bill. Before we dive into the tricks, let us begin with understanding the property tax bill. UNDERSTANDING THE PROPERTY TAX BILL & HOW IT IS CALCULATED Most homeowners feel their property taxes are too high. But it is important to understand how the local government has reached that number on the bill. Many homeowners are not aware of how property taxes are calculated. There are two important aspects involved when it comes to calculating the property tax bill, tax rate and the market value of the property. The tax rates are based on state law. Some states change them annually and some every five years. Local governments set up the tax rates as well and this is known as the mill rate. The market value is determined by an assessor who is hired by the local government. The assessor determines the market value for a pro...