Property Tax Exemptions - Did You Purchase a Home in 2011?
Hope you all had a wonderful Holiday season and a very Happy New Year!!
If you purchased a home in Texas in 2011 as your primary residence, January is the time that you should file for the General Residential Homestead Exemption in order to qualify for lower taxes for the property you own and occupy. Sometime this month you should receive the Residential Homestead Exemption Application from the appropriate appraisal district, you can also download the form from the appropriate websites. You must complete and sign this form and mail back to the appraisal district no later than April 30 to receive the exemption for this year. Additionally a state law went into effect September 1, 2011 that require proof of residency. All new applicants must provide:
Application for Residential Homestead Exemption.
Copy of Texas Driver's License or Texas ID Card. The address MUST MATCH homestead address intended for the exemption.
Copy of Vehicle Registration receipt. The address MUST MATCH the homestead address.
The Homestead Exemption will NOT be allowed unless all the required documents show the same homestead address.
As a new property owner, you are required to pay property taxes on your real estate. It is taxed each year by a variety of jurisdictions including the county, city and school district. New homeowners need to notify the taxing authorities of their new ownership so that the tax rolls will reflect the change. You may do this by contacting the appropriate tax appraisal district in your county from the following list:
Collin County 469-742-9200 www.collincad.org
Dallas County 214-631-0910 www.dallascad.org
Denton County 940-349-3800 www.dentoncad.com
Ellis County 972-937-3552 www.elliscad.org
Rockwall County 972-771-2034 www.rockwallcad.com
Tarrant County 817-284-0024 www.tad.org
** TAX EXEMPTIONS
On January 1, of each year, value, ownership, legal description of the property and exemption status of the taxpayer is determined. Several forms of tax relief are available which may reduce the taxable value of your property. Applying for exemptions is the taxpayer’s responsibility. Some exemptions require a new application each year. Contact your appraisal district to learn more about the following exemptions and how to file for them:
General Homestead Exemption
Over 65 Exemption
Disabled Individual Exemption
Disabled Veteran Exemption
*Agriculture Land Exemption
To receive your exemption(s), you must own the property and be living in the property as of January 1st. Your application must be applied for on or before April 30th to receive the tax benefits for this year. You may receive a solicitation from a recording service to file for your exemption for a fee. This is not necessary. You can file for your exemption for free. Remember, tax statements are generally mailed in October of each year. The taxes are payable on or after October 31, however, you may elect to pay them as late as January 31 without penalty. Taxes become delinquent February 1 and on this date penalties and interest do accrue. If you receive a Tax Statement and your mortgage company is escrowing funds for taxes from your monthly payments, forward the statement to your mortgage company so they can pay the taxes.
Best wishes for a healthy and prosperous New Year! Vida