Exemptions

Dated: December 3 2022

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Exemptions

What is a homestead exemption?

A homestead exemption lowers your property taxes by removing part of the value of your property from taxation. There are several different types of homestead exemption, including the general residence homestead exemption and exemptions for seniors, people and veterans with disabilities, and some surviving spouses.

Do I have to apply for a homestead exemption every year?

I just purchased my home. When can I apply for a homestead exemption?

Can I claim a homestead exemption on a mobile home if I do not own the land?

How much does it cost to file for a homestead exemption?

The address on my license does not match my property’s address. Can I submit a passport or Concealed Handgun License?

Will I be notified when my application has been approved?

I own more than one property. Can I have a homestead exemption on both?

I forgot to apply for my homestead exemption. Can I apply late?

I own a property and have a homestead exemption. I also own another property with someone else. Can that person qualify for a homestead exemption on the other property?

What types of exemptions require an annual application?

How many acres can I claim as my homestead?

Is there a fee to file for an exemption?

How do I apply for a homestead exemption?

Other than a homestead exemption, what other exemptions might I be able to qualify for?

How long does it take to process a homestead exemption application?

NOTICES OF APPRAISED VALUE

What if TCAD’s records do not reflect the current ownership of a property?

I did not receive a Notice of Appraised Value. Why not?

When will notices be mailed out?

I purchased a property that has been split. When will my name be shown as the owner?

Why does my property have an assessed value?

Why did my value change?

What is an improvement?

What is fair market value?

PROPERTY TAXES

When are my property taxes delinquent?

When are my property taxes due?

I applied for a tax deferral. How will I know when my deferral will be processed or applied?

By what authority is my property taxed?

Who sets tax rates?

What if I cannot or do not pay my taxes?

PROTESTS

What happens if I do not appear for my formal hearing?

Where are ARB hearings conducted?

When will I get my notice about a formal hearing?

What should I bring to my formal hearing?

I am deaf. Will TCAD arrange for me to have an interpreter at my hearing?

When will I receive the evidence related to my protest?

Can someone else represent me during my protest?

Can I get a list of sales to help me in my protest?

How do I submit an affidavit before my hearing?

Can I get electronic shape files?

Can I get a copy of the appraisal roll?

If I buy a foreclosed property and bring in my closing statement, will my market value be reduced?

How do I schedule my informal meeting?

I received an electronic offer to settle my protest. Can I still have an informal meeting?

RESIDENTIAL

How can I get my name and address removed from the TCAD website?

Why did my value change?

What is an improvement?

If I buy a foreclosed property and bring in my closing statement, will my market value be reduced?

My home was not complete on January 1. How do you appraise it?

Is my house ever depreciated?

How is my property valued?

Has someone come out and looked at my property?

How do you arrive at the value of a house?

What is a rendition?

What is fair market value?

Why are you inspecting my property?

How long does it take to process a homestead exemption application?

BUSINESS PERSONAL PROPERTY

How can I get my name and address removed from the TCAD website?

I went out of business during the year. Will my business personal property taxes be prorated?

Who must file a rendition?

What types of property must be rendered?

What is the deadline to file a rendition?

Can I use bookeeping records as my rendition?

Is the information I render to TCAD confidential?

How do I determine original cost?

Can I file a rendition late?

Is sales tax included in the sales price of heavy equipment or in the monthly lease or rental payment, as applicable?

Can previous lease and rental payments be deducted from the cost of a piece of heavy equipment being sold?

Is anyone who sells, leases or rents heavy equipment a dealer? Or must the person be “engaged in the business in this state of selling, leasing or renting heavy equipment”?

Should the cost of warranties in the sales price of heavy equipment be included before applying the unit property tax?

If you are a heavy equipment dealer, do you still have to render under Chapter 22?

Can excess funds in the escrow account after all property taxes have been paid to the appropriate taxing units be carried over to the next tax year?

If the same auction house is used by a company to sell all of its used equipment, is this considered a fleet sale?

Do the exclusions for fleet transactions, sales to dealers, and subsequent sales apply to leases and rentals?

What is considered heavy equipment?

Can we treat all attachments sold or rented with heavy equipment as heavy equipment?

Does the requirement that “the owner of the equipment shall state the amount of the unit property tax assigned as a separate line item on an invoice” apply to sales?

Is a dealer who does not owe property tax because the dealer was not in business on Jan. 1 prohibited from assigning a unit property tax apply only to sales or to sales, leases and rentals?

LAND AND AGRICULTURE VALUATIONS

What is an agricultural exemption?

What types of activities can qualify for Agricultural Valuation?

How many animals do I need on my property to qualify for Agricultural Valuation?

Will I receive an Ag Rollback Tax if I buy a property with Agricultural Valuation, build a house, and stop using the property for agriculture?

What type of tax savings would I receive if my property received Agricultural Valuation?

How are the production values set for agricultural properties?

How many acres do I need to qualify for Agricultural Valuation?

What is an Ag Rollback?

What is Wildlife Valuation and how do I qualify?

CONTACT US

512-834-9317

CSInfo@tcadcentral.org

 

 

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Rebecca Wooten

My name is Rebecca Wooten. I am a wife, mother, friend, and Realtor. I have worked and lived in the Northwest Hill Country/Lake Travis area since 2005. Being local and loyal to my peers and clients, m....

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