Skip to main content

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:
  1. 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 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.
  2. Exemptions for Nonprofit 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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 cancelled, as long as the owner continues to own and live in the home. Interest continues to accrue on unpaid taxes.
  7. 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.

Comments

Post a Comment

Popular posts from this blog

Why are Property Taxes in Texas so High for Homes?

 1. Texas does not have a state income tax, so property taxes are the main source of local government funding. This often results in higher-than-expected property tax bills for homeowners. 2. You could be paying unfair or inflated taxes and not even know it. Property assessments can be inaccurate or inflated. Thankfully, we are here to help you with these issues.  How O’Connor Helps Homeowners Across Texas: We specialize in residential property tax reductions by identifying inaccurate assessments and filing appeals on your behalf. Learn more at https://www.poconnor.com/residential/ #homepropertytaxes #residentialpropertytax  #propertytaxesintexas #Texashomepropertytaxes #hometaxesintexas
Post a Comment
Read more

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

Effective Texas Property Tax Protest Guide by O’Connor

  If you're looking to lower your property taxes in Texas, understanding how to protest property taxes is crucial. The process involves reviewing your appraisal notice carefully for errors or overvaluations, filing a written protest with your county appraisal district, and gathering strong evidence such as comparable sales, photos, and repair estimates to support your claim. You can attend informal meetings or formal hearings with the appraisal review board, and if necessary, appeal further. Texas property tax protests are essential for ensuring your property is assessed fairly, and expert help is available to guide you through this process. Learn the step-by-step procedure and how professionals handle all aspects of your case to maximize your savings. To get detailed guidance on how to protest property taxes in Texas and potentially reduce your financial burden, visit https://www.poconnor.com/how-to-protest-property-taxes/. Make sure to leverage expert assistance and timely action...
Post a Comment
Read more