AUSTIN (KXAN) – With a New Year comes another chance for homeowners to save on property tax bills through property exemptions.
The Travis Central Appraisal District said homeowners can save even more on their property tax bills in 2022 with the coming into force of new laws regarding property exemptions.
Homeowners are now eligible to file property exemptions from the date they own the property instead of having to wait until the following calendar year, and additional changes to the exemption specifically for homeowners over 65 years or disabled also come into force.
“On average, a homestead exemption saved Travis County property owners $ 1,126 on their 2021 property tax bill,” said Marya Crigler, TCAD chief appraiser. “Thanks to new laws and policies, landowners with exemptions on family property are expected to receive even more reductions in 2022.”
County and city authorities have increased tax benefits for people 65 and older as well as people and veterans with disabilities. In June, the Austin city council approved the increase in the tax exemption from $ 88,000 to an amount not exceeding $ 113,000, and in May, voters could approve an increase in the school district’s exemptions for the same group from $ 25,000 to $ 40,000.
“The new year will give property owners the ability to vote on exemptions that could lower the biggest contributor to their property tax bill – their school district taxes,” Crigler said.
The city council also approved increasing the municipal property tax exemption on residential properties from 10% to a maximum of 20%, in accordance with state law.
TCAD will launch a webinar series on homestead exemptions and other tax matters at 11:30 a.m. on January 12. It will cover property tax bills, payment options and appraisal remedies.
“Residents of Travis County who have questions about the property tax system or need assistance with their exemption requests will have several options for contacting us in an easy and convenient way,” said Crigler.
