PROPERTY OWNERS HAVE CERTAIN RIGHTS
THAT MAY REDUCE THEIR PROPERTY TAX BURDEN
One of the easiest ways a homeowner can lower his or her property tax bill is to file a homestead exemption. A homestead is generally the house and land used as the owner’s principal residence on Jan. 1 of the tax year. A person who acquires property after Jan. 1 may receive the residence homestead exemption for the applicable portion of that tax year immediately on qualification for the exemption if the preceding owner did not receive the same exemption for that tax year. A homestead exemption reduces the appraised value of the home by $40,000 and, as a result, lowers school property taxes. Applications are submitted to the Coryell Central Appraisal District (Coryell CAD).
PERSONS WHO ARE OVER 65 YEARS OF AGE/DISABLED PERSONS
Individuals 65 or older or disabled, as defined by law, may qualify for a $10,000 homestead exemption for school taxes, in addition to the $40,000 exemption available to all homeowners. Older or disabled homeowners do not need to own their homes on Jan. 1 to qualify for the $10,000 homestead exemption. They qualify as soon as they turn age 65 or become disabled. Persons over 65 or disabled should apply for this exemption at the Coryell CAD office. A ceiling on school, county, and certain city and special district homestead taxes will be established in the first year of qualification.
The law provides partial exemptions for any property owned by veterans who are disabled, surviving spouses and surviving children of deceased disabled veterans. Another partial exemption is for homesteads donated to disabled veterans by charitable organizations at no cost or not more than 50% of the good faith estimate of the homestead’s market value to the disabled veterans and their surviving spouse. The exemption amount is determined according to percentage of service-connected disability. The law also provides a 100% homestead exemption for 100% disabled veterans and their surviving spouses and for surviving spouses of U.S. armed service members killed in the line of duty.
PROPERTY TAX DEFERRAL FOR PERSONS AGE 65 OR OLDER, DISABLED OR DISABLED VETERAN HOMEOWNERS
Over 65 persons, disabled persons or disabled veterans are also eligible to postpone (defer) paying the tax on their residential homestead by signing a tax deferral affidavit. Once the affidavit is on file, taxes are deferred, but not cancelled, as long as the owner continues to own and live in the home. The taxes continue to accrue during the deferral along with interest at a rate of 5% per annum, but no attempt will be made to force payment during the deferral period. Details and applications may be obtained from the Coryell CAD.
Residence Homestead Tax Deferral
Texas homeowners may postpone paying the currently delinquent property taxes due on the appreciating value of their homes by filing a tax deferral affidavit at their local county appraisal district. This tax relief allows homeowners to pay the property taxes on 105 percent of the preceding year’s appraised value of their homestead, plus the taxes on any new improvements to the homestead. The deferral postpones the remaining taxes, with interest accruing at 8 percent per year but does not cancel them.
SURVIVING SPOUSE OF FIRST RESPONDER
The eligible surviving spouse of a first responder killed in the line of duty is allowed a total (100%) tax exemption on his or her residence homestead if the surviving spouse has not remarried since the death of the first responder.
PROPERTY TAX EXEMPTIONS
Non-profit organizations that meet statutory requirements may seek property tax exemptions and must apply to their local appraisal district by a specific date. Businesses that receive tax abatements granted by taxing units; ship inventory out of Texas that may be eligible for the freeport exemption; store certain goods in transit in warehouses that are moved within 175 days; construct, install or acquire pollution control property; own and operate energy storage systems; convert landfill-generated gas; or store offshore drilling equipment while not in use may also be eligible for statutory exemptions.
FARM AND RANCH OWNERS
Property owners who use land for agricultural purposes, wildlife management or timber land production can be granted property tax relief on their land. They may apply to the Coryell CAD for an agricultural appraisal which may result in a lower appraisal of the land based on how much the property owner produces, versus what the land would sell for in the open market. Applications are due April 30th.
BUSINESS PERSONAL PROPERTY OWNERS
If a business owns tangible personal property that is used to produce income, the business must file a rendition with the Coryell CAD by April 15th. Personal property includes inventory and equipment used by a business. Owners do not have to render exempt property such as church property or an agriculture producer’s equipment used for farming. State law requires the filing of a rendition declaring the type(s) of business personal property that a person or company owns. Failure to file the rendition will result in a 10% penalty. If a fraudulent rendition is filed, a 50% penalty is mandated. A rendition form can be obtained from the Coryell CAD office. The filing deadline is April 15th. A 30-day filing extension is available if a written request is received prior to the deadline.
PROPERTY TAXPAYER REMEDIES
This Comptroller publication explains in detail how to protest a property appraisal, what issues the county appraisal review board (ARB) can consider and what to expect during a protest hearing. The publication also discusses the option to request limited binding arbitration to compel the ARB or chief appraiser to comply with a procedural requirement and the options of taking a taxpayer’s case to district court, the State Office of Administrative Hearings or binding arbitration if the taxpayer is dissatisfied with the outcome of the ARB hearing.
Coryell CAD property owners will receive a notice of appraised value from the appraisal district. The city, county, school districts and other local taxing units will use the appraisal district’s value to set property taxes for the coming year.
PROTESTING PROPERTY APPRAISAL VALUE
Property owners who disagree with the appraisal district’s appraisal of their property for local taxes or for any other action that adversely affects them may protest their property value to the appraisal district’s ARB. Protests are due by May 15th or 30-days after the appraisal notice is mailed, whichever is later.
Property owners can request an informal meeting with appraisal district staff to try and resolve their disputes prior to attending ARB hearings.
NOTICE OF AVAILABILITY OF ELECTRONIC COMMUNICATION
In appraisal districts located in counties with more than 200,000 populations or that have authorized electronic communications, and that have implemented a system that allows such communications, chief appraisers and ARBs may communicate electronically through email or other media with property owners or their designated representatives. Written agreements are required for notices and other documents to be delivered electronically in place of mailing.
All property tax forms including those for exemptions, special use valuation, renditions, etc. may be obtained from the Coryell CAD or from the State Comptroller’s Office at 1-800-252-9121. Applications are available as downloads from the appraisal district website https://coryellcad.org/commonly-used-forms/ or the comptroller’s website https://comptroller.texas.gov/taxes/property-tax/forms/. Homesteads, disabled veterans, agricultural appraisal (1-d-1) and business personal property forms may be filed online at https://forms.coryellcad.org/.
This is a public service announcement by: Coryell Central Appraisal District