Skip to main content

Property Tax Reform In 2017 – Is It Possible?

Property tax reform has been on the minds of Texas property owners for years and this year is no exception. In fact, a special session of the Texas Legislature is scheduled to begin on July 18, 2017 and property tax is one of the items on their agenda.
The expectations for property tax reform prior to the 2017 legislative session were the highest since the year 2000. That was the last time meaningful property tax legislation was passed as a package.
There were four major objectives: 
1) to slow the growth of property taxes
2) to implement changes to effect impartial appraisal review board hearings
3) to provide property owners easier access to information
4) to provide more oversight of appraisal districts
However, due to a seemingly intractable dispute between the house and the senate, most of the proposed legislation was not passed. A list of exemptions that did pass in their last session include the following:
1) Total homestead exemption from property taxes for the spouse of a first responder killed in the line of duty.
2) A one-year extension for the deadline to file a homestead exemption. For example, a homeowner who bought their house in 2014 can file a homestead exemption by January 31, 2018 and get a homestead exemption for 2015, 2016 and 2017. Refunds of property taxes for prior years will be sent to the homeowners.
3) The deadline for filing was extended by four years for persons with permanent disability.
4) The chief appraiser can correct an error made in denying homestead exemption for those homeowners over 65 or for those who are disabled.
5) The freeport exemption filing deadline was extended until June 15.
6) The maximum property value for binding arbitration was increased from $3 million to $5 million for property that is not a homestead.
7) The Texas Comptroller can remove an arbitrator who is biased based on clear and convincing evidence of repeated bias or misconduct.
Positive property tax reform for Texas property owners is possible and you can bring about change. Texans that want to make their voice heard should contact their representative. If you would like to know who to contact, here is a link to look up your representative by county.

Comments

Post a Comment

Popular posts from this blog

Cook County Residential Property Tax Reduction Made Simple

  Managing Cook County Illinois real estate taxes can be overwhelming, especially with rising assessments that often feel inaccurate or unfair. Fortunately, O’Connor offers a specialized service to help homeowners file a Cook County property tax appeal with confidence. Their proven strategy combines in-depth market analysis, property valuation reviews, and knowledge of local tax laws to identify opportunities for meaningful savings. Even if you have never filed before, O’Connor makes the process straightforward—handling research, paperwork, and negotiations on your behalf. This not only saves you time but also maximizes your chance of success. Whether your concern is affordability, fairness, or simply reducing unnecessary expenses, initiating a Cook County property tax protest with O’Connor ensures you have experts in your corner fighting for the lowest lawful tax burden.Take the first step toward lowering your property taxes today—visit https://www.poconnor.com/illinois/cook-count...
Post a Comment
Read more

Cost Segregation Without a Physical Site Visit

No site inspection cost segregation allows property owners to access the benefits of depreciation acceleration without the need for an on-site engineering review. This streamlined approach leverages modern data sources, including architectural plans, photos, and property records, to classify assets accurately and comply with IRS standards. The primary advantage is efficiency: property owners can save time, reduce logistical challenges, and lower costs associated with a traditional site inspection while still obtaining a thorough and defensible cost segregation study. This method is particularly beneficial for investors managing multiple properties across different locations or for those with operational constraints that make physical visits difficult. By using a combination of remote data analysis and expert engineering insight, no site inspection studies can identify opportunities to reclassify building components into shorter-lived asset categories, unlocking significant tax saving...
Post a Comment
Read more

Cook County Property Tax Reduction Services

Are you a residential property owner in Cook County, Illinois, struggling with high property taxes? The O'Connor property tax reduction service offers a risk-free solution. Their team of consultants, attorneys, and appraisers aggressively protests and appeals your property taxes on your behalf. You only pay if they are successful in reducing your tax burden, with no upfront fees, court costs, or appraisal fees. They handle all aspects of the appeal process, from negotiating with the Cook County Assessor to representing you before the Cook County Board of Review and the Illinois Property Tax Appeal Board. You can easily enroll online and let their experts work to lower your property taxes. To learn more and get started, visit their website: https://www.poconnor.com/illinois/cook-county-residential-property-tax-reduction/ "#CookCountypropertytaxappeal #cookcountyillinoisrealestatetaxes #CookCountypropertytaxprotest"
Post a Comment
Read more