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Old 05-03-2015, 08:10 AM   #21
Thinks s/he gets paid by the post
Rustic23's Avatar
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,660
Texas Over 65

"Over-65 Homestead Exemption
You may qualify for this exemption on the date you become age 65. You must submit proof of
age. Acceptable proof includes a copy of the front side of your driver's license or a copy of your
birth certificate. If you qualify for the Over-65 Exemption, there is a property tax “ceiling” that
automatically limits School taxes to the amount you paid in the year that you qualified for the
homestead and Over-65 exemption. A County, City or Junior College may also limit taxes for the
Over-65 Exemption if they adopt a tax ceiling. Tax ceiling amounts can increase if you add
improvements to your home (i.e., adding a garage, room or pool).
In addition, Over-65 homeowners who purchase or move into a different home in Texas may also
transfer the percentage of school taxes paid, based on the former home’s school tax ceiling.
This is commonly referred to as a Ceiling Transfer. To transfer your tax ceiling for the purposes
of County, City or Junior College District taxes, however, you must move to another home within
the same taxing unit. You must request a certificate from the Appraisal District for the former
home and take it to the Appraisal District for the new home, if it is in a different district. "

And there is Deferral.

"Over-65 Tax and Disabled Person Deferral
If you are a homeowner who qualifies for the Over-65 or the Disabled Persons exemption, you
may also defer or postpone paying any property taxes on your home for as long as you own and
live in it. Check with your appraisal district for information about how to apply for this
postponement. It is important to note that this deferral only postpones your taxes and does not
cancel them. It also accrues eight (8) percent interest annually until the deferral is removed. When
the property is sold or comes under the ownership of heirs, the taxes and accrued interest
becomes payable.
Note:If you have an existing mortgage on your residence, the tax deferral does not prevent your
mortgage company from paying delinquent taxes; a tax deferral applies only to the collection of
taxes. "

Several Texas Counties also have instituted a Ceiling. The one we live in does, however I think the number of counties that have done this is less than ten. I know of no cities that instituted it.

If it is after 5:00 when I post I reserve the right to disavow anything I posted.
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Old 05-03-2015, 08:51 AM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 17,845
Originally Posted by Bamaman View Post
While Texas doesn't have a state income tax, they do kill you on property taxes. And a 5% increase is a lot of money when property taxes are too high to begin with.

My buddy in North Dallas sold his house because his property taxes raised to $50K. A bare 75' x 220' lot up there goes $1.6 million.

We moved to Alabama because of their low property taxes. With 3500 square feet and 4 acre yard, our taxes would be just over $600. But my wife is disabled and we are excluded from paying property taxes.

After all, how often do you feel that your local politicians are good stewards of your tax dollars? This is something to consider when you are looking for some place to retire to.
LOL! Somehow my property taxes haven't been that bad. Perhaps because I don't live on a large expensive property or near the largest metropolitan areas.

Congrats on your move!

Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
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