Have you purchased a home? If so, you have already made the most meaningful and largest purchase of your lives. Now we want to make sure that you understand and utilize the advantages…
HOMESTEAD EXEMPTION DEFINED - A residential EXEMPTION removes partial value of your property from taxation.
RESULT – Lower taxes.
WHAT ARE THE QUALIFICATIONS TO BE MET? The property must be owned as a primary residence on January 1 and you must not be claiming a homestead exemption on any other property.
As a property owner, you are required to pay taxes on personally owned real estate. The property is taxed yearly by different jurisdictions including county, city and school district. One of the first steps as a home buyer in 2009 is to verify that ownership has changed, so that the tax rolls will reflect new ownership. This can be done simply by contacting the appropriate tax appraisal district in your county.
If you failed to file for this exemption in a prior year, it is never to late, you should do so now. Applying for exemptions is the taxpayer’s responsibility. In addition to the Homestead Exemption, there are also the following exemptions available: OVER 65 EXEMPTION / DISABLED INDIVIDUAL EXCEMPTION / DISABLED VETERAN EXEMPTION / AGRICULTURE LAND EXEMPTION.
The city should send you a form to fill out, sign, notarize and return (It only needs to be done one time). If you have not received this form by the end of the February, you can either go to the website specific to your county tax district or call to have the form sent. Do Not Be Fooled by companies asking for payment for this service, it is a FREE service. Also, I provide FREE notary service for my clients convenience.
To find out if you meet the qualifications to receive your exemption(s), here is a list of County office numbers and Web sites for you to contact. REMEMBER, YOUR APPLICATION MUST BE FILED ON OR BEFORE APRIL 30, 2008. See list below…
Collin County 972.578.5200 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.txcountydata.com
Tarrant County 817.284.0024 www.tad.org
Please do not hesitate to call 214-365-6500 if you have any question or concerns. We are here to assist you in all your Real Estate needs.