Archive for the ‘Travis’ Category

Travis County Property Taxes

Published by Research Editor on January 15th, 2013 - in Local taxes, Travis

propertytaxesinSTravis
Travis County folks have a variety of ways to gather information about property taxes in Travis County.

Social Connections

The Tax Office is active on Facebook and Twitter. When I checked these pages out today, I found an update that mentioned one of the Tax Offices is unable to process motor vehicle registrations because of a system outage. Great information: it would have saved me a trip, had I planned to go register my car today.

The Tax Office also has a Youtube channel with over a dozen helpful videos, including How to Save on Property Tax and 2012 Property Tax Deadline and Payment Options.

Paying Your Property Taxes

Pay property taxes online here, along with information on convenience fees and other payment options.

Get a letter of intent for installment payments. To learn if you’re eligible for installments, see our article, How to Pay Property Taxes in Installments and contact the tax office today if you need to pay in installments.

Forms

Forms, like Homestead Exemptions, Tax Ceiling Certificates, and Protest Forms are available

Protesting Taxes

Details on how to protest your taxes in Travis County and on the formal hearing procedures are easily accessible.

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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.

© 2013 FYP, LLC.