Property Tax Exemptions Explained
teAs property owners, we understand that taxes are a fact of life. They’re an essential part of our civic duty, contributing to infrastructural development, public utilities, and services in our cities and towns. When it comes to property tax, the bite can sometimes feel more like a chomp. This is especially true if you’re not […]
Which Property Tax Exemptions Do You Qualify For?
Learn More About the Different Provisions for Reducing Your Property Taxes Understanding and leveraging property tax exemptions is a crucial strategy that homeowners can use to effectively manage their expenses. These exemptions can make a significant difference to your annual property tax bill, potentially saving you hundreds or even thousands of dollars each year. Whether […]
Understanding Texas Homestead Exemptions
Owning a home can give you financial security, but it can also come with turbulent costs that may affect your monthly and annual budgets. A significant part of this financial equation is understanding the nuances of property taxes and how to control them, particularly taking advantage of the Texas Homestead Exemption. This exemption is a […]
Understanding the Texas Property Tax Over 65 Exemption
Property taxes have been steeply increasing for years. In 2012, the mean property taxes paid per household was $2,790. However, in recent years, the typical property tax bill climbed all the way up to $3,797. While this is a hard price for most households across the state to pay, staggering property tax increases can jeopardize […]
Your Guide to Understanding Texas Property Tax Exemptions
Property taxes aren’t just expensive in Texas—they can also be complicated. Virtually every home in the state is subject to some combination of city, county, and school district levies, each of which is calculated at a different rate based on your county and jurisdiction. Each residential property is also individually appraised based on its market […]
Deciphering Taxes: What to Know About Falling Values in Texas
Property taxes should go down when property values go down, right? Unfortunately, the math isn’t always so simple. Even when sales prices reflect falling values in Texas on the active market, as they did in the latter months of 2023, your specific neighborhood might still have increasing market values as individual homes get sold. However, […]
Maximizing Your Homestead Cap Value in Texas: What You Need to Know
The Texas housing market is settling into its new normal, and that will impact your finances whether you sell your home or not. As of November 2023, Texas’s median home listing price has increased 1.8% month over month, and officials use that market data when calculating home appraisal values. Due to dozens of market factors, […]
Unlocking the Benefits: Homestead Cap Value in Property Tax Protests
In November 2023, Texas voters approved an amendment that allowed the legislature to increase the homestead exemption to $100,000 and create a pilot program to cap the assessed value of non-homesteaded properties. While these changes promise substantial savings to homeowners across the state, it’s important to step back and see how the changes work within […]
Unlocking Savings: Understanding the Homestead Cap in Texas
The Role Homestead Caps Play in Your Property Tax Savings Strategy In the summer of 2023, the Texas House and Senate proposed different methods of enacting property tax cuts. One of the House’s proposals focused on the homestead cap, and it would have lowered the homestead cap percentage from 10% to 5%. This plan wasn’t […]
Texas Property Tax Exemptions That Benefit Residential Homebuyers
Purchasing a new home is a big accomplishment. But it comes with a lot of new financial responsibilities: paying the closing costs on the home, managing the mortgage, paying property taxes, and keeping up on maintenance and repairs. At the same time, there are a lot of financial programs designed to help homeowners with those […]