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 […]
Beyond the Homestead Exemption: Lesser-Known Tax Exemptions in Texas
Homeownership in Texas comes with some substantial expense. Alongside routine maintenance costs, mortgage payments, and homeowners insurance, annual property taxes can take a big chunk of your income. The absence of state taxes and increasing home values due to Texas’ exploding real estate market contribute to the high property taxes. Texas residents pay an average […]
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 […]
What to Know About the Veterans Property Tax Exemption in Texas
Texas is home to hundreds of thousands of veterans. As of 2019, 7% of civilian adults in Texas are veterans, and there are thousands of additional Texans serving in the military. Knowing the state and federal programs available for active-duty military members, veterans, and spouses of veterans can help you navigate everything from home ownership […]
Navigating the Complexities of Property Tax Exemptions in Texas: A Real Estate Agent Perspective
One of Texas’s most essential marketing engines for real estate agents is referrals and repeat business. Staying in contact with past clients throughout a long multi-year cycle can keep you top of mind when they’re ready to buy a new home, and it can also bring in a lot of referrals. On average, agents get […]
4 Most Common Reasons Homeowners Lose Exemption Requests
For most Texas homeowners, recent property appraisal notifications showed an increase in the market value of their primary residence. That’s great news if you’re trying to sell your home. It’s not so good when calculating your property taxes. Northern Texas can expect a 10% to 20% increase in a home’s market value over 2022. Central […]
Beyond Homestead Exemption: Lesser-Known Tax Exemptions in Texas
Beyond Homestead Exemption: Lesser-Known Tax Exemptions in Texas There are three critical tools every homeowner in Texas needs to fight for fair property taxes: property tax protests, exemptions, and the knowledge or resources to use both tools properly. Many Texans protest their property taxes every year, either by themselves or with the help of tax […]
Top Property Tax Exemptions in Texas Every Homeowner Should Know
Texas homeowners are paying high property taxes. While they aren’t quite at the peak price they experienced during the latter half of the pandemic, elevated property values and high city budgets that are trying to keep up with the pace of growth and services demands led to unpleasant surprises in 2022—and are just as likely […]