Texas Property Taxes: Exemptions
What Are Property Tax Exemptions and How Do Property Owners Get Them? Texas is unique in that it is one of only nine states in the country that do not have personal state income taxes. Great news, right? Well, partially. We still have to pay for public services, such as public schools and libraries, road […]
Understanding the 10% Homestead Exemption Cap
Being a homeowner in Texas offers several financial advantages. It protects against rapid rent increases: Texas doesn’t have a legal cap on rental rate increases, and even smaller communities like Waco, Texas, saw rent prices increase by over 30% from 2020 to 2022. It’s a good investment vehicle, as the principal portion of the monthly […]
5 Benefits of Homestead Exemption Texas Homeowners Can Use
Texas homestead exemptions give homeowners partial property tax reductions. Suppose you primarily reside in a Texas home that you own. In that case, you can file for a general resident homestead exemption that can reduce the taxable value of your property, keep rapidly escalating taxes under control, and provide tax relief year after year. These […]
A Guide to Understanding the Homestead Exemption and Homestead Cap
When you pay your property tax bill each year, those funds go toward your city, county, and local school budgets, covering anything from firefighters’ salaries to ongoing road maintenance. The exact tax bill you receive is based on three key numbers: first, the total spending budget of the taxing units that your property is subject […]
What Are the Homestead Exemptions in Texas?
Texas property tax law changes every few years. See the latest posts for the most up-to-date information. How Texas Homestead Exemptions Can Reduce Your Property Tax Bill Texas property taxes have risen so high that they’re no longer in many residents’ budgets. Local governments rely on property taxes for everything from county roads to city […]
What to Know About the Veterans Property Tax Exemption in Texas
Texas property tax law changes every few years. See the latest posts for the most up-to-date information. The rapid increase in property taxes has been a serious issue for homeowners for over two years, but real estate markets and inflation are making it harder than ever for Texan homeowners to budget for property taxes. Not […]
What Is the Texas Agricultural Property Tax Exemption, and How Can It Help Lower Property Taxes?
Texas property tax law changes every few years. See the latest posts for the most up-to-date information. High property taxes aren’t just a problem for hot urban and suburban markets in trendy metroplexes; property owners across the state are feeling the sting of property taxes that have risen more than 20% in the past five […]
Ultimate Guide to Over 65 Property Tax Exemptions
Texans of all ages and incomes across the state have seen an unprecedented increase in their property tax bills due to rising property appraisals. In just ten years, home prices have increased over 214%, and those steep increases have, in turn, affected appraisal values for taxation purposes. While this has been nerve-wracking for most taxpayers, […]
Key Things to Know About Land Tax Exemptions in Texas
A land tax exemption in Texas is a welcome advantage for most Texan property owners. Property taxes are one of the many expenses you must deal with as a property owner.
What is a Homestead Exemption in Texas?
Being one of the few states without an income tax, Texas relies more heavily on property taxes to generate revenue. Along with these increases in property taxes, though, come a number of state-sanctioned tax breaks for homeowners.