Homestead Information…You Should Know About

March 30, 2011 - PRLog -- 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 2010 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 or going to the website listed below.

If you failed to file for this exemption in a prior year, it is never too 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, 2011. See list below…

Appraisal District
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 if you have any question or concern. As always, we are here to assist you in all your Real Estate needs.

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Whether you are buying or selling a home in Dallas, or you are relocating to the Dallas area, the The Harrison Group is here to help.