Archive for the ‘Bexar’ Category

Bexar County Property Taxes

Published by Research Editor on September 24th, 2012 - in Bexar, Local taxes

Information for Bexar County property taxes is available in two places: the county site and the appraisal district site.

The Bexar County site features include:

The Bexar Appraisal District site has:

To test the two different searches, I put Sea World’s address in the County search and the Appraisal District search. Nothing shows up in either if you spell the address “10500 Sea World Drive” but both have information if you shorten it to “10500 Sea World Dr”. Both give you information for “10500 Sea World”.

As a side note, did you know that Sea World pays almost $100,000 in property taxes?

Property Tax Fees and Penalties


 

This video explains in detail the consequences of not paying property taxes for Texans.

For a property tax loan, visit Texas Property Tax Loans

How the Texas Homestead Tax Cap Works

 

How the Texas Homestead Tax Cap Works: in simple terms.

For homes that are receiving a homestead exemption, which is any property that the owner considers their primary residence, the appraised value may be lower than the property’s market value because of what the law refers to as the “homestead cap.”

Currently the law states that, while a property’s January 1st market value isn’t capped, the property’s appraised value is capped at a maximum increase of 10% from the previous year.

So, let’s say:

  • The market value of someone’s home on Jan 1st is $200,000
  • But, the year prior it was only valued at $170,000.
  • This year’s appraised value would be $187,000, which is an increase of 10% from the previous year.

But in some situations, the value of the home can go down while the appraisal goes up.
Lets pretend that next year, something happens and:

  • The home’s value drops from $200,000 to $190,000.
  • The cap for that year would be $205,700.
  • The appraised value would increase from $187,000 to $190,000.

and taxes would increase even though property value decreased.

To qualify for the cap, the owner must first receive the homestead exemption, then the value must increase more than 10% within a year.

For more informative tax articles and videos, visit fypllc.com.
For a property tax loan, visit TexasPropertyTaxLoans.com.

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