A jubilant optimism has convoluted homeowners. And for good reasons. Fixed low interest rates, appreciating home values, and hopes of refinancing culminate to a rather bright outlook. However, one thing has changed… the Appraisal District has finally decided to wipe the sleep from its eyes and play some catch-up!
THE SCOOP: Due to drastically appreciating home values in Texas, the Appraisal District is increasing home valuations on all Texas homeowners.
WHAT TO EXPECT: While inflating home prices is a plus for homeowners, it also means higher property taxes for 2015. For Houston and surrounding areas, a high property tax rate is considered around 3+ percent. The tax rate will remain the same, but the appraised home values will change.
THE SOLUTION: File your Homestead Exemption for 2015. The Homestead Exemption in Texas allows a 20% deduction in the valuation of your home. Please take advantage of this wonderful opportunity to claim your home as Homestead Exempt.
Texas residents, please click the image below to file the Homestead Exemption.
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