• A Variety of Homes Exemptions ...

A Variety of Homes Exemptions could lower Your property taxes! A homestead exemption lowers the property taxes on your home by lowering its taxable value. If your home is valued at $50,000 and you receive a $15,000 homestead exemption, your home will be taxed as if it were worth $35,000. Who qualifies for an exemption? Anyone who owns a home on Jan. 1 and uses it as a primary residence on that date is entitled to a $15,000 homestead exemption to lower SCHOOL taxes this year...and it does not matter if your home is a house, condominium or mobile home. Counties, cities and special taxing districts may also offer homestead exemptions. Are other exemptions available? If you are disabled-or if you are 65 years old or older-you are entitled to an additional $10,000 school tax exemption on your home. And if you qualify for the 65 or older or disabled exemption, you are also entitled to a permanent, locked-in “ceiling” on the school property taxes on your home. (The county, city or junior college may adopt a tax ceiling to lock in 2016 taxes as the highest amount for 65 and older or disabled homeowners.) The age 65 or older homeowners school tax ceiling transfers to the surviving spouse, if the spouse is 55 years of age or older at the time of death and lives in and owns the home. The age 65 or older homeowners (or their surviving spouses 55 years of age or older) also may transfer the percentage of school tax paid, based on their former home’s school tax ceiling, to a new home. ** PLEASE NOTE: If you are a disabled veteran who receives form the Veterans Affairs (VA) – (1) 100 percent disability compensation due to service connected disability and (2) a rating of 100 percent disabled or a determination of individual unemployability, you are entitled to an exemption from taxation of the total appraised value of your resident homestead. A surviving spouse does qualify as of January 1, 2012. Do I have to apply each year? No. If you had a homestead exemption on your home in 2015, you will not need to reapply for 2016 unless required by the chief appraiser. However, if you have not received an exemption on your present home or if you have moved to a new home – you will need to file for an exemption for 2016. If you are 65 this year, you may file for the age 65 or older exemption up to one year after the date you turned 65. And if you became disabled, you need to file for the disabled person’s exemption. When and where should I file? File applications by April 30 at your appraisal district office. If you need more time, contact your appraisal district at: Howard County Appraisal District 315 Main Street Big Spring, TX 79720 432 263-8301 Your Appraisal District can answer any questions you may have and provide you a free copy of: “Texas Property Taxes: Taxpayers’ Rights, Remedies and Responsibilities” Or Contact: Texas Comptroller Susan Combs Property Tax Assistance Division P.O. Box 13528 Austin, Texas 78711-3528 Or call: (800) 252-9121, Ext. 1 On The Web at: www.window.state.tx.us/ taxinfo/proptax/ #9328 March 19-24, 2017
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PostedMarch 19, 2017