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What are property taxes in Texas and how to lower property taxes?
Property taxes in Texas are a local tax levied on real estate and personal properties owned within each county and go to that county's local schools, emergency services, and roads. The amount of taxes owed are established by the property's value and multiplied by the local tax rate. While local tax rates are set by the local governments and cannot be directly protested by property owners, the property value is set each year by the county's appraisal district and can be directly protested to reduce the taxes owed. This is where American Property can help. In order to successfully get your value reduced, you must present valid evidence to that fact. This is typically market sales data, market equity data, or property income data which indicates a lower value. Unfortunately, many property owners do not have access to the requisite data and cannot get access without paying astronomical fees. American Property not only pays for access to everything necessary to earn you a reduction, but also has over 30 years of experience in appraisal theory to know how to get results with appraisal districts. Property owners are about 60% more likely to receive a reduction when they use a property tax professional rather than protesting themselves. By signing up with American Property before your property tax protest deadline, you significantly increase your chances at paying lower taxes.
How to protest property taxes?
In order to protest your property taxes, you must file your protest with your county's appraisal district before your protest deadline. The protest deadline is typically on May 15th or 30 days after you receive your Notice of Appraised Value, whichever is later. This is a hard deadline with not many options for a reduced value if you do not protest in time. We understand many business owners and homeowners don't have the time to do this each year. By signing up with American Property, you can rest assured that your property value will be automatically protested by us each year, ensuring that you never miss your deadline.
What day is Property Tax Protest Deadline in Texas?
May 15th or 30 days after you receive you Notice of Appraised Value, whichever is later.
Should I hire a property tax agent?
In order to successfully get your value reduced, you must present valid evidence to that fact. This is typically market sales data, market equity data, or property income data which indicates a lower value. Unfortunately, many property owners do not have access to the requisite data and cannot get access without paying astronomical fees. American Property not only pays for access to everything necessary to earn you a reduction, but also has over 30 years of experience in appraisal theory to know how to get results with appraisal districts. Property owners are about 60% more likely to receive a reduction when they use a property tax professional rather than protesting themselves. By signing up with American Property before your property tax protest deadline, you significantly increase your chances at paying lower taxes.
What is a homestead exemption in Texas?
A homestead exemption reduces the taxable value of one's main residence by lowering the school tax value by $100,000, and by limiting the amount the taxable value can increase per year to only 10%. Counties also have the option to grant additional value exemptions for homesteads so the total amount will vary. This exemption can only be filed for one residential property and cannot be filed on multiple properties for one owner and cannot be used on a residence that is rented out.
How to file a homestead exemption in Texas?
To file a homestead exemption, the property owner must complete General Exemption Form 50-114 and send it to their county's appraisal district along with a photo of their Driver's License and evidence of the date of occupancy. The Driver's License must have the same address as the main residence the exemption is for. Evidence of occupancy is typically a copy of a utility/internet bill which shows payment back to the occupancy date.
What is an over 65 exemption?
For property owners who are age 65 or older, an over 65 exemption can be filed on their main residence which will decrease the taxable value of the property similar to the homestead exemption. However, the over 65 exemption also creates a tax ceiling for the school district taxes for the exempt property. This means the school district taxes cannot exceed the taxes paid in the year the exemption is filed and this continues as long as the owner continues to live in that residence.
How to file an over 65 exemption?
You may apply for an over 65 exemption through the same General Exemption Form 50-114 as the homestead exemption. However, if an appraisal district already has your age on file from a previous exemption form and you haven't changed addresses since then, the appraisal district should automatically apply the over 65 exemption for you. It is still best to contact your appraisal district to confirm this.
Should I appeal my property taxes every year?
American Property recommends protesting your property's value each year even if the appraised value is below the market value. What we often see happen is owners wait to protest until the appraised value reaches the market value, but appraisal districts will use the acceptance of prior year values as evidence that the market value should no longer be lowered.
What is a Notice of Appraised Value?
A Notice of Appraised value is sent out by appraisal districts typically every year to indicate the taxable and market value of your property. Most property owners will receive their Notice of Appraised Value on or before May 15th. If you do not receive yours by May 15th, you can check your value on your county's appraisal district website.
What is the deadline to pay property taxes?
January 31st
What is the deadline for Business Personal Property Renditions?
April 15th

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