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Tax exemptions can help you to reduce a lot of cash burdens. All Texan property owners can get Texas property tax exemptions if it applies to them. The Texas homestead exemption allows some people to reduce their liability and benefit from property tax relief. Here is how to ensure that you are not paying more than you need to.
What homestead tax exemption is available?
Property tax exemption in Texas falls under Chapter 11 of the Texas Property Tax Code which provides homestead exemptions for people who meet certain requirements.
Who is exempt from paying property taxes? School districts are required to offer a $25,000 exemption on residence homesteads. Counties can also offer additional exemptions of up to 20% of a property’s appraised value. The disabled and the elderly are also entitled to an additional $10,000 exemption from school taxes.
property tax exemption
Other home tax exemption laws include:
Disabled veterans exemptions
Spouses of veterans
County tax exemption
Other property tax exemptions may be available within certain counties, especially for spouses of first responders who died in the line of duty
How to apply for homestead exemption? You can fill in a Texas homestead exemption form and contact us at American Finance & Investment Co., Inc. for more info on Texas property tax exemptions.
My Website: https://afic.co/blog/are-you-getting-your-texas-property-tax-breaks
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