Questions on property taxes and property tax exemptions are some that I get asked by clients regularly. How much will my taxes be? What discounts am I eligible for? Why should I file for an exemption? All are excellent questions and well worth asking!
Generally speaking, property taxes are determined and collected on the local level. In Palestine, property taxes are managed by the Anderson County Appraisal District (ACAD). I won’t get into how property taxes are determined for the purposes of this post, but just know that ACAD is the one that determine your property’s appraisal value (another important note: YOUR PROPERTY TAX APPRAISAL IS NOT FAIR MARKET VALUE!!—but that’s another convo for another day…haha!)
An easy way to understand property tax exemptions is to think of them as “property tax discounts.”
There are many different types of exemptions, such as:
The most common of the exemptions is the Residence Homestead Tax Exemption. Lucky for us, it is also the easiest to apply for!
DO YOU QUALIFY?
The only specific requirements to qualify for a residential homestead exemption in Texas are: (note: dates of residence may apply)
HOW MUCH IS THE DISCOUNT? **NOTE: THIS ARTICLE WAS ORIGINALLY PUBLISHED IN 2014. AS OF THE 2023 ELECTION, SOME OF THESE AMOUNTS AND PERCENTAGES HAVE CHANGED! CHECK WITH YOUR TAX OFFICE FOR MORE INFO
WHEN & HOW DO TO FILE?
Anderson County Appraisal District
801 N. Perry St.
Palestine, TX 75801
That is the 5 minute explanation and how to file on your East Texas Property Tax Exemption. I hope this general information helped give a quick explanation and to clarify some FAQ on Homestead Property Tax Exemptions. The laws are somewhat tedious and specific, and I am not a lawyer or CPA, so if you have specific legal or tax questions, always talk to your lawyer or CPA. Please note that this post is not a substitute for legal or tax advice and all regulations, deadlines, requirements and laws are subject to changes, so always verify current statutes.
Lisa E. Priest is a born and raised Texan for life and East Texas Area REALTOR® / Real Estate Agent with Picket Fence Realty, Inc.
You can call her via phone 903-729-7530 or email
www.RentPalestine.com – www.BuyPalestine.com
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