ALL >> Real-Estate-and-Foreclosure >> View Article
When Do You Qualify For Over-65 Homestead Exemption?

You qualify for an over-65 homestead exemption the day you or your spouse turn 65. Other requirements are you must own the house and it must be your primary residence.
Most issues related to Texas property taxes are based on a January 1 date. The over-65 homestead becomes effective when you or your spouse turn 65. It is prorated for the first year based on the portion of the year you are 65.
Benefits of an over-65 homestead exemption include:
School property taxes are frozen forever. If you live to be 100, your school taxes would never rise (unless you remodel or add-on to the house).
Substantially higher homestead exemptions in many tax entities.
You can allow property taxes to accrue with $0 in annual payments. Upon the death of the second spouse, the balance plus interest is due. However, there are no penalties.
If one spouse dies, the surviving spouse can retain the over-65 homestead exemption if they are 55 year of age or older.
Homestead exemptions can be tricky. For complimentary assistance on homestead exemptions, call 713 290 9700.
Visit: https://www.poconnor.com/when-do-you-qualify-for-over-65-homestead-exemption/
Add Comment
Real Estate and Foreclosure Articles
1. Top Advantages Of Applying Asphalt Drum Mix Plant In Building ConstructionAuthor: Gopesh Thakkar
2. The Office Address: Smart Workspaces That Evolve With You
Author: The Office Address
3. Simchah Estates' 3.5 Bhk Luxury Apartments In Kokapet
Author: Simchah estates
4. Top 7 Reasons To Hire An Industrial Land Consultant In Sanand
Author: Ashishestate
5. Bridging Borders, Building Markets: How Pakistani Call Centers Fuel Uk Real Estate Growth
Author: Shan Tait
6. Budget Tips: How To Save Money On Serviced Apartments In Noida
Author: Adopremium
7. Investing In Flats For Sale In Bangalore Tips And Trends
Author: Jason
8. Expert Guide: Industrial Land Consultant In Ahmedabad For Investors
Author: Divyaestate
9. Ahmedabad’s Booming Industry: Why You Need An Industrial Land Broker
Author: Divyaestate
10. Luxury Plotting Projects: Where Elegance Meets Opportunity
Author: codename oxygen
11. Why Should You Hire A Professional Garage Door Service For Your Commercial Property
Author: Door-Tech Garage Doors Services
12. Avoid Legal Hassles – Sell My House Fast In Sunnyvale Ca
Author: Mike
13. Bankruptcy Looming? Sell My House Fast In Sunnyvale Ca
Author: Mike
14. Death In The Family? Sell My House Fast In Sunnyvale Ca With Support
Author: Mike
15. Best Second Home Projects In Konkan For Family Vacations
Author: codename oxygen