Here’s what you need to know about the recent 2023 updates to the Texas homestead exemption: The homestead exemption amount will more than double from $40,000 to $100,000. Homeowners will also see hundreds in savings, on average, from school tax rate compressions. Those aged 65 and older or disabled will receive their extra $10,000 [...]
Here’s what you need to know about property valuations by appraisal districts: County appraisal districts frequently value properties through mass appraisal methods, leading to significant errors in property valuations. Your property tax bill is determined by multiplying the property’s assessed value by the county tax rate. Gill, Denson, & Company had a 83% success [...]
Here’s what you need to know about business personal property (BPP): BPP is tangible, non-real property used for business purposes. BPP valuations are determined annually by the county appraisal district. A BPP rendition form must be completed every year by April 15. Gill, Denson, & Company can assist with rendition filings and potentially reduce [...]
What you need to know about the most significant updates to Texas property tax law: The school district homestead exemption will be increased from $40,000 to $100,000. School property tax will be reduced by 10.7 cents through maintenance and operation (M&O) rate compression. A 20% appraisal cap pilot program will apply for [...]
One of our founders Charles Denson spoke with the local news about the unprecedented tax appraisal increases in 2022. Reporter Maria Aguilera with KVUE news asked Charles for any advice he can offer property owners, to which he explained the importance of protesting your property taxes every year to keep your bill in check. Read [...]
As a Texas homeowner, you know by now that the Lone Star State has some of the highest property taxes in the country. Each year the state’s county appraisal districts assess the current market value of properties which determines property taxes. According to the U.S. Census Bureau, Texans pay well over $3,000 a year in [...]
Are you thinking about appealing your property taxes? Maybe you’ve already got the ball rolling. If so, good for you! It’s estimated that 90% of property owners in Texas don’t protest their taxes, and they should! According to Gill, Denson & Company tax advisor - Joe Gomberg, most taxpayers throughout the state of Texas are [...]
As a Texas taxpayer, one of your most important rights is your right to protest the County Appraisal District’s (CAD) assessment of your property. The appraisal districts do mass evaluations on millions of homes each year. There is plenty of room for error as appraisal districts are prone to using inaccurate information and insufficient methods [...]
Good news for residential homebuyers in Texas! The Texas legislature passed a law, effective January 1, 2022, allowing homebuyers to file for (and be granted) the Homestead Exemption as soon as they close on a new home and change their driver’s license reflecting the new address. The home must be complete and livable by this [...]
If you’ve recently compared the County Appraisal District’s (CAD) value of your home with what you believe your home’s open market alue to be, you may have been surprised at the difference. Both home values are important but have distinct contrasts: The CAD value is an educated guess of your home’s value made by a [...]
