Преглед на кода на TEXAS PROPERTY TAX RATE

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Now that you know more about PropertyAxe and their Texas property tax tools, let’s talk about Texas property taxes. Property taxes are the single largest source of funding for Texas schools. In fact, property tax revenue makes up more than half of the state's total public-school funds. However, property taxes can be high in Texas, especially if your home's value isn't growing as fast as you'd like. Here's how you can minimize your property tax burden.

Assessed Value:

Property taxes are the largest source of revenue local governments use to provide the services they need, such as schools, police, fire protection and public health. In Texas, each local government - city, county and school districts - determines how much they spend on these services and sets tax rates to raise the funds necessary. The local governments then employ assessors to review property data and visit homes to arrive at the assessed value. The value is based on what it would sell for when both the buyer and seller are not under pressure to buy or sell. Each year, the chief appraiser sends a detailed notice of appraised value to property owners. It lists a description of the property, its value, exemptions and an estimate of the taxes that might be owed.

Tax Rate:

The Texas constitution requires that all property be taxed at no more than its fair market value. Residential property is appraised annually by county appraisal districts (CADs) and disputed values are brought to an appraisal review board made up of local citizens. Generally, each local government controls its own budget and tax rate. This means that your property taxes will vary depending on where you live and what school district your home is in. Another important factor is your property’s value. Typically, the higher the value, the higher your property taxes will be. In Texas, property taxes are levied by local governments and schools. These taxes are a major source of revenue for these entities, and fund services like public education, roads, libraries and law enforcement.

Tax Exemptions:

Property taxes are a way to pay for services such as schools, public libraries, and parks in your area. However, Texas has one of the highest property tax rates in the country and a variety of exemptions can help you reduce your bill. A partial exemption excludes a percentage of your property's value from taxation, while an absolute (total) exemption excludes the entire value of your home from taxation. The amount of these exemptions varies depending on your county's specific regulations.

General Residence Exemption: You are eligible for this exemption if you own and occupy your property as your principal residence and it is located in Texas. You must also have a driver's license or Texas-issued personal identification certificate. 

Over-65 Exemption: This is for homeowners 65 years or older and their spouses. The exemption is capped at over 70k per property.

Disability Exemption: This is for disabled persons. They must be able to earn income through disability insurance.

Payment:

Your local county tax office provides a number of ways to pay property taxes. These include credit cards, escrow, and installments. Property taxes are the largest source of revenue for local government services, such as schools, roads, streets and fire protection. Texas law establishes the process for determining property values, setting tax rates and collecting those taxes. Payments are due annually by January 31st, unless you qualify for exemptions. After that, penalties and interest begin to accrue on your unpaid balances. Currently, these penalties can be as high as 43% of your current property tax bill. Now that you know more about Texas property taxes, it is time to go back to the website of PropertyAxe, your online property tax protest software! You will be happy that you did!