property taxProperty tax bills will be hitting mailboxes this month, and if you’re like many homeowners in Texas, you might experience a bit of sticker shock.

And you might even think about protesting that valuation to get a lower bill, but where do you start? After all, the deadline to file a protest is May 15 — which is not too far away.

Luckily, one local business has made it quite easy to gather the evidence and file a protest — PropertyTax.io.

We first told you about PropertyTax.io last year, but for the uninitiated, it’s a web-based product developed by Goodrich Realty Consulting, first as a tool for their tax consultants to use in the company’s property tax division. Last year, they released the tool to the general public, and it is really shaking up the way people appeal their property tax bills. (more…)

 

 

According to a recent report from CoreLogic, home prices in the Dallas-Fort Worth Metroplex increased by nearly 4 percent from February 2018 to February 2019.

In the State of Texas, Fort Worth took home first prize as the municipality where home prices increased the most during that span with 5.7 percent increase.  Not a prize to be proud of, necessarily.

This is nothing new.  We have seen home prices increase since the Great Recession.  While price increases certainly aren’t fun for home buyers, they haven’t stopped the Dallas-Fort Worth area from being one of the hottest relocation destinations in the United States

Tarrant Tax Appraisal District Doing Its Thing

What is unsettling is that local municipalities continue to abuse this housing boom and overall strong economy to inflate property values when it comes to tax appraisal time.

In a recent story by the Fort Worth Star-Telegram, Tarrant County chief appraiser Jeffrey Law was quoted that 2019 tax values would most likely increase 7 to 10 percent.

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NeaveOn the heels of the revelation that Dallas County is suing State Rep. Victoria Neave for more than $26,000 in late property taxes on her Abrams Road home, Richardson ISD has filed documentation that would bring Neave’s total delinquent tax tab to more than $50,000.

The district filed an intervening motion March 1 that added its $23,948.58 to Neave’s previously reported $26,760.73 the county already named in the suit filed on Feb. 28.

The potential for the intervention was mentioned in the original suit, which said, in part, that Richardson would likely also join as a party to the suit, “because it may have a claim for delinquent taxes against all or part of the same property.”

Neave represents District 107, which includes parts of East Dallas and Mesquite. (more…)

Neave

Dallas County has filed suit against State Rep. Victoria Neave for back taxes on this Abrams Road home.

State Rep. Victoria Neave has found herself in hot water with Dallas County and is being sued for more than $26,000 in late property taxes on her Abrams Road home.

Documents filed Tuesday reveal that Neave is arrears to the tune of $26,760.73, and is listed in the suit along with her former law partner and ex-fiance, Mark Scott Jr.

Neave represents District 107, which includes parts of East Dallas and Mesquite. (more…)

By Lydia Blair
Special Contributor

At closing, some items, like real estate taxes, are divided up between the buyers and sellers so that each party pays their share of the expenses. This is called proration. The amount each party pays is based on the number of days in the year (or month) that they own the property. It is only fair that you are charged ownership fees and taxes just for the time you own the property.

The title agency is typically responsible for dividing these kinds of expenses proportionally based on a unit of time. For annual property taxes, we divide the tax amount by 365 days to obtain the cost per day. We then multiply the cost per day by the days the seller owned the home and the days the buyer will own the home. Each party is responsible for their prorated amount.

If the taxes for that year have not been paid, the seller is charged for their share and it is credited to the buyer to pay the total bill. If the seller has already paid the taxes for that year, the buyer is charged for their share and it is credited to the seller at closing.

Of course, property taxes aren’t the only fees that are prorated …

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Complaints about skyrocketing property tax bills are nothing new, but few people take the time to find out exactly what goes into that number. For many, fighting property taxes has not been a priority because they could ultimately write-off the amount on their income taxes. That changes this year.

Under the guidelines of the Tax Cuts and Jobs Act that was passed at the end of 2017, write-offs are now capped at $10,000. In Dallas County, that’s about the average tax bill of a home valued at $450,000.

“I don’t think a lot of people understand that and they are going to be shocked this year,” local entrepreneur and Allie Beth Allman & Associates agent Stephen White said. (more…)

State Rep. Dennis Bonnen took the gavel as Speaker of the House yesterday, and asked for cooperation across the aisles (Photo courtesy Rep. Bonnen’s Facebook page).

Bathrooms? That’s so 2017. The new hot legislative priorities lighting up Austin this legislative session are school finance and property taxes.

Think I’m kidding? New House Speaker Dennis Bonnen put it on a cup — actually, every cup in the Senate lounge is now emblazoned with “School Finance Reform, The Time Is Now.”

The session gaveled in knowing already that state Comptroller Glenn Hegar had told them that they would have about 8.1 percent more in funding available for public programs like schools and healthcare in the next two years, for about a $119.1 billion state budget. But he also cautioned legislators that they wouldn’t be able to make it rain — oil prices are falling and the U.S. economy is uncertain, leaving any prognostication as to how revenue will look a bit muddled.

But one couldn’t help but notice a sense of cooperation in both houses of the state legislature, one not generally felt in the last session, where Lt. Gov. Dan Patrick embarked on a much-lamented quest for passage of a bathroom bill and school vouchers, both of which failed.

Bonnen, in his address Tuesday, made a plea for more bipartisanship.

“In a state as big and diverse as Texas, there are plenty of ideas about what we should do on any one issue and these ideas often point in different directions,” Bonnen said. “It’s our job to reconcile the differences.”

The makeup of the two bodies is also different this time around. Democrats gained 12 seats in the house last November, with Republicans holding the Texas House with 83 seats to Democrats’ 67. In the Senate, there are 19 Republicans and 12 Democrats. Thanks to the three-fifths rule, a kill on an unpopular GOP bill like a bathroom bill would be just one Republican renegade away, unlike the last session, when the Democrats were outnumbered 20 to 10.

This pivot away from the unpopular bathroom bill, especially (Patrick even called it “settled” when asked about it Wednesday), bodes well for proponents of retooling public education finance, as well as property owners looking for relief from rising property taxes. (more…)

By Lydia Blair
Special Contributor

A reader writes: “I bought a home in 2018 and my taxes are escrowed by my mortgage company. How do I get a homestead exemption to get a discount on my taxes? Do I need to repeat the process every year? How much does it save me?”

You most definitely want to know how to file for a homestead exemption for your 2019 property taxes. To get a homestead exemption, you must own and live in the property as your principal residence as of Jan. 1 of that tax year. So, if you purchased in 2018, you may apply for that exemption after Jan. 1, 2019.

A homestead exemption removes part of your home’s value from taxation, so it lowers your taxes. I don’t know the details about your home to tell you how much a homestead exemption can save on your property taxes, but it is generally about 20 percent. Given the property tax rates in Texas, it is worth the few minutes it takes.  

To qualify, your home must also be owned by you as an individual (or individuals). A corporation or other business entity doesn’t qualify for this exemption. Do not pay someone else to do this for you. It is free and you can do it online in a few minutes.

Here is a step-by-step guide for how to apply for a homestead exemption in the DFW area:

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