Here’s what you need to know about the property tax exemption for Texas wildfire damage: There is a property tax exemption that offers relief to those affected by disasters by temporarily reducing the appraised value of qualifying damaged properties. Properties must sustain at least 15% physical physical damage and be in a governor-declared disaster [...]
Here’s what you need to know about claiming the Texas Agricultural and Timber exemption: The Texas ag & timber exemption is actually a special appraisal valuing land based on its productivity value, which is often significantly lower than the market value. The land must primarily be engaged in qualifying agriculture or timber activities for [...]
Here’s what you need to know about the solar property tax exemption in Texas:The Texas Renewable Energy Systems Property Tax Exemption waives 100% of the increased appraised property value due to adding certain solar energy devices.Solar systems must be owned and primarily used for the production and distribution of energy used on-site in order to [...]
When it comes to purchasing a home in the suburbs of Houston, Texas many prospective buyers focus on the property's price tag, location, and amenities. However, what often goes unnoticed are the hidden costs associated with property ownership, particularly property taxes. Let’s delve into the intricacies of property taxes in Houston suburbs, shedding light [...]
Here’s what you need to know about protesting your Texas property taxes every year: Texas property tax bills are often higher than they should be because counties use mass appraisal methods, leading to inaccurate property valuations. Consider protesting your property taxes annually since various factors can influence changes in your assessed value each year. [...]
Here’s what you need to know about your Texas property tax bill and how you can lower it: Local appraisal districts value properties, and this value, multiplied by your local tax rate, is used to determine your property tax bill. Appraisal districts use mass appraisal methods to value properties, which often leads to overinflated [...]
Here’s what you need to know about homestead exemption benefits for homeowners aged 65 plus: Homestead exemptions can help Texas homeowners save thousands annually on property taxes. Homeowners aged 65 and older are eligible for more benefits, including an additional exemption and a “frozen” school tax ceiling. File your 65-plus application by April 30 [...]
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 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 [...]
