Tagged : Taxes

Several new laws affecting homeowners went into effect on January 1 of this year. Although there are numerous new laws that Texas residents should learn more about, those that specifically affect homeowners include new laws that are meant to lower property taxes as well as those that are meant to improve the home appraisal process.

Several new pieces of legislation related to property taxes were passed by lawmakers last year. One of these includes legislation that will limit what is known as a "comparable sale" as well as creating a new arbitration process. Additional legislation establishes new requirements for requesting to increase the amount of a property appraisal after successfully completing an appeal.

According to an Austin Biz Journals report, Texas…

As a taxpayer in Texas, you certainly want to save as much money as possible.  After all, you don’t want to have to pay money in taxes if you don’t have to!  At the same time, in order to reduce the amount of money you have to pay on property taxes, it is important to work within the parameters of the law.

There are four different types of home exemptions that you can apply for as a property owner in Texas.  These apply to your primary residence and they include…

    * School taxes
    * County taxes
    * Optional exemptions
    * Age 65 or older

Understanding these exemptions and how they work is important so you can take full advantage of the benefits they offer.

School Taxes

School tax exemptions are available to all homeowners and qualifying for one is quite

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