Property Tax Recommendations In Texas

Texas is home to a growing population. Austin, the state’s capitol, remains a vibrant, desirable place to live with a strong residential real estate market. Just south, the hamlet of San Marcos was the nation’s fastest growing city in 2013. Many folks are buying homes in this red-hot real estate market. If you are considering buying or have just bought a home, there are many issues on your plate. However, when it comes to property taxes, be sure to do the following:

  1. Obtain a tax certificate for the home from all jurisdictions that tax it. Ideally, you should do this before you buy. The tax certificate indicates any delinquent taxes owed on the property.
  2. If your mortgage company pays property taxes on your home out of an escrow account, make sure the taxing units send original tax bills to the company.
  3. Apply to the appraisal district for a residence homestead and any other exemptions.
  4. If you sold your previous home in Texas, ensure it listed under the new owner’s name and address.
  5. New homes receive an appraised value from the appraisal district in April or May. Contact the appraisal district if you do not receive notification of your appraised value or if you have any questions about the taxes owed.
  6. If you no longer qualify for the general, over-65 or disabled Texas homestead exemption, notify the appraisal district in writing or face a tax penalty.

Owning a home in Texas is a wonderful experience. However, home ownership carries with it some significant financial and legal responsibilities. Foremost among these is the timely payment of property taxes. Be sure to understand your property taxes and any relevant exemptions. Your enjoyment of your home goes further when you are in control of your financial situation.


Source: Texas Gulf Coast Online