Frequently Asked Questions
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How does a Homestead exemption
help with my taxes?
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Who qualifies for a Homestead
exemption?
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What is a 10% Homestead capped
value?
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Who qualifies for a Homestead
school tax ceiling?
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Who qualifies for a Disability
exemption?
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When does land qualify for
Agricultural Use exemption?
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What is binding arbitration?
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How does a
District Court Appeal work?
Example: A
homestead exemption entitles you to a $15,000 reduction off the school taxes,
which lowers your property taxes by lowering its taxable value. If your home is
valued at $150,000 and you receive a $15,000 exemption off your school taxes,
your home will be taxed as if it were worth $135,000 on the school taxes.
In Travis County, a
homeowner receives exemption amount of 20% of the total value.
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If you own a home and use
it as your primary residence by January 1, you can apply for a homestead
exemption. The home can be a house, condominium or mobile home.
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If you have a Homestead exemption, the
appraisal district can not increase your assessed or taxable value more than 10%
of the appraised value from the prior year.
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When you turn 65 years old
you can apply for the over-65 exemption, which includes the school tax freeze or
ceiling. The school "freeze" means that the school taxes will never go above the
frozen amount. The only exception is if improvements are made to the home; i.e.
additional room, garage, pool. The ceiling will be adjusted to include the
improvements.
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To qualify you must meet
the Social Security definition for disabled as defined under the Federal Old-Age, Survivors, and Disability Insurance
program administered by the Social
Security Administration. This exemption also includes
the school tax freeze or ceiling.
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When the land is used exclusively for agriculture for five
of the preceding seven years prior the current year. Call us at
512-339-6671 for more information.
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Updated:
29-Apr-2006
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