Updated Property Tax Information Now Available | News
New and updated property tax information has just been compiled by the Navarro Central Appraisal District and is now available to help taxpayers.
This property tax information is up-to-date and covers a wide range of topics, such as taxpayer appeals, exemptions, and assessments, and includes information for certain groups, such as disabled veterans and seniors. 65 or older.
Whether you are a home owner, business owner, disabled veteran or taxpayer, it is important that you know your rights regarding property tax laws.
This includes information about the following programs:
• Homestead Exemptions – A homestead is generally defined as the house and land used as the owner’s principal residence on January 1 of the tax year. A homestead exemption reduces the appraised value of the home and, therefore, reduces property taxes. Applications are submitted to the appropriate local assessment district.
• Residence Tax Deferral – Texas homeowners can defer payment of currently overdue property taxes due on appreciation in the value of their homes by filing a tax deferral affidavit with their assessment district. local county. This tax relief allows property owners to pay property taxes on 105 percent of their property’s appraised value from the previous year, plus taxes on any new property improvements. The deferral defers the remaining taxes, with accrued interest at 8% per year, but does not cancel them.
• Property Tax Deferral for Seniors 65 or Older or Disabled Homeowners or Disabled Veterans – Texans who are 65 or older or disabled, as defined by law, or who qualify for an exemption for Disabled Veteran can defer paying current and past due property taxes on their homes by signing a Tax Deferral Affidavit. Once the affidavit is on file, taxes are deferred, but not waived, as long as the homeowner continues to own and live in the home. Interest continues to accrue at 5% per annum on unpaid taxes. You can obtain an affidavit of deferment at the assessment district.
• Property Tax Exemptions for Disabled Veterans – The law provides partial exemptions for any property owned by disabled Veterans or surviving spouses and surviving children of deceased disabled Veterans. Another partial exemption is for homesteads donated to disabled veterans by charitable organizations at no charge or no more than 50% of the good faith estimate of the market value of the property to disabled veterans and their surviving spouses. The amount of the exemption is determined based on the percentage of service-related disability. The law also provides a 100% exemption for 100% disabled veterans and their surviving spouses and surviving spouses of members of the United States armed forces killed or mortally injured in the line of duty.
• Property Tax Exemptions – Not-for-profit organizations that meet the legal requirements may apply for property tax exemptions and must apply to their local assessment district by a specific date. Companies that benefit from tax relief granted by tax units; ship inventory out of Texas that may qualify for the free port exemption; store certain goods in transit in warehouses that are moved within 175 days; build, install or acquire an anti-pollution property; own and operate energy storage systems; convert gas generated from landfills; or storing offshore drilling equipment when not in use may also qualify for legal exemptions.
• Return of taxable property – If a business has tangible personal property that is used to produce income, the business must file a return with its local assessment district by a specified date. Personal property includes inventory and equipment used by a business. Landlords do not have to return exempt property such as church property or a farm producer’s equipment used for farming.
• Productivity Assessment – Landowners who use land for forest production, agriculture or wildlife management may receive property tax relief on their land. They can apply to their local assessment district for an agricultural assessment which may result in a lower assessment of land based on production compared to market value.
• Notice of Assessment – Normally taxpayers receive a Notice of Appraised Value from the appropriate local assessment district. The city, county, school districts, and other local taxing units use the assessment district value to set property taxes for the coming year.
• Remedies for Property Taxpayers – This comptroller’s publication explains in detail how to protest a property assessment, what issues the county’s Assessment Review Board can look into, and what to expect at a protest hearing. The post also discusses the ability to seek limited binding arbitration to compel the ARB or Chief Assessor to comply with a procedural requirement and the options of taking a taxpayer’s case to a district court, the Bureau state administrative hearings or binding arbitration if the taxpayer is not satisfied. with the outcome of the ARB hearing.
• Property Assessment Value Protest – Homeowners who disagree with the assessment district’s assessment of their property for local taxes or any other action that negatively affects them can protest the value of their property with the ARB of the assessment district.
• Notice of Availability of Electronic Communication – Chief Assessors and ARBs may communicate electronically via email or other media with Owners or their designated representatives provided a written agreement has been filed with the District of evaluation to have notices and other documents delivered electronically instead of by mail.
• Informal Meetings – The property may request an informal meeting with Assessment District staff to try to resolve their differences before attending ARB hearings. For more information about these programs, contact the Assessment District at 1250 N. 45th St. in Corsicana, 903-872-2476.
Information is also available on the Comptroller’s Property Tax Assistance Division website at comptroller.texas.gov/taxes/property-tax/.