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 Welcome to the MikeFreemanProperties.com Blog

2015-01-08 12:49:59
Ring in the New Year with a Property Tax Break

Ring in the New Year with a Property Tax Break

 The New Year has arrived and it’s time to file for your Homestead Exemption! You have from now until April 30th.

 If you’re new to home ownership or if you’re new to the state of Texas, here’s a quick tutorial on our Homestead Exemption:

     - What is it?

     -The general homestead exemption is provided by state law for owner-occupied residential properties. The exemption
       removes a portion of your value from taxation providing a lower tax amount for the homestead property.

     -Who qualifies for it?

     - In order to qualify for this exemption you must have owned and occupied the property as of January 1st of that tax year.
       This property must also be your principal residence and you may not claim another homestead on another piece of
       property.

     - Is there a fee to apply?

     - No.

     - Do I need to reapply each year?

     - No. You do not have to reapply unless the chief appraiser requests a new application or you move to a new residence.

     - When and where do I apply?

     - You may apply at the Williamson Central Appraisal District between January 1st and April 30th of the tax year. You may file
       for late HS exemption up to one year after the date which the taxes become delinquent. You can find an application
here
       or on the
Forms section of the WCAD website.

     - PRO-TIP: file online and your property information will be auto-populated and processed faster.

     -Want to know more about the process?

     - Watch the videos on the WCAD website.

 But wait - there’s more! Please find additional taxpayer exemptions below:

Are you a homeowner with disabilities? You may qualify for property tax benefits if:

     - you can't engage in gainful work because of physical or mental disability or

     - you are 55 years old and blind and can't engage in your previous work because of your blindness

If you receive disability benefits under the Federal Old Age, Survivors, and Disability Insurance Program through the Social Security Administration you should qualify. Disability benefits from any other program do not automatically qualify. Visit the WCAD site to apply easily online.

 Are you a disabled veteran? You may qualify for property tax benefits if:

     - a veteran who was disabled while serving with the U.S. armed forces or

     - the surviving spouse or child (under 18 years of age or unmarried) of a disabled veteran

You must be a Texas resident and must provide documentation from the Veteran's Administration reflecting the percentage of your service-connected disability. Your disability rating must be at least 10%. You may also qualify for the 100% Disabled Veterans Residential Homestead exemption. Please see WCAD 100% Disabled Veterans Homestead Frequently Asked Questions.

 Are you over 65? You may qualify for property tax benefits if:

     - you are age 65 or older your residence homestead will qualify for additional exemption deductions and you will receive a tax
        ceiling for that home on your school taxes. You may file for the over-65 exemption up to one year from the date you turned
        65.

 Have questions? I’d be honored to help. Call or email me anytime at (512) 694-9769 and mike@mikefreemanproperties.com.

 All homestead information from the Williamson County Appraisal District website: https://www.wcad.org/.

 
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