Austin Real Estate Blog

There is a lot of work involved in protecting your investment in real estate but, it is probably worth it. The Texas State Government pages have some suggestions on how to go about making sure your property taxes remain reasonable.

Obtain a homestead exemption that will decrease the amount of property value that can be taxed. There are two simple requirements for this: you must own the home and it must be your primary residence. You qualify for additional exemptions if you are 65 or older, have a disability such as blindness, are a disabled veteran or the surviving spouse or child of a veteran.

Specific exemptions include a $15,000 exemption for school taxes, $3,000 for county taxes if the county collects for flood control or farm to market road taxes. In addition, homeowners 65 years or older receive $10,000 over and above the $15,000 exemption offered to all homeowners. Homeowners with disabilities receive the same $10,000 over the $15,000 exemption. Exemptions for veterans or their surviving family members range from $5,000 to $12,000 depending on the severity of disability.

To file an exemption on your home, you must obtain an exemption form from the local appraisal district office. The form must be filed between January 1 and April 30. Documentation may be required for the 65+ or veteran disability exemptions: make sure you have proof of your claims.

If you purchase and move into a new home, or if your circumstances change, you will have to file a new application for the new situation. If you turn 65, you have up to one year from your birth date to file for exemption. The chief appraiser may require a new application and will notify the homeowner by written notice along with an application.