123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

When Do You Qualify For Over-65 Homestead Exemption?

Profile Picture
By Author: O'Connor
Total Articles: 87
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

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/

Total Views: 60Word Count: 180See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. Williamson Appraisal Districts Raises Commercial Values 17.7% In 2021
Author: O’Connor

2. Understanding Replacement Reserves In Commercial Real Estate
Author: Property Analytix

3. When Is The Right Time To Buy A Home?
Author: Reema senma

4. What Are The Advantages Of A Build To Suit In Okc?
Author: horizon realestate

5. Renovation Does Not Take Place, Frequently
Author: Shreya Rajpoot

6. Impact Of Coronavirus On Adolescents And Young Adults
Author: Graham Flaherty

7. Top 10 Affordable Property For Sale In New Gurgaon
Author: Orion Realtors

8. Faridabad’s First Landscape Podium Residential Project
Author: Hemant Kumar

9. Work-from-home Is Changing The Future Of Commercial Real Estate
Author: Property Analytix

10. Many Reasons To Buy Grand Cayman Property For Sale
Author: Tammy Crighton-Buck

11. Travis Appraisal Districts Raises Commercial Values 8.51% In 2021
Author: O’Connor

12. El Paso County Residential Values Increase 16.5%
Author: O’Connor

13. Engineers Horizon Bonheur Reviews
Author: horizon bonhure

14. 1,2,3 Bhk Flats At Bonheur Reviews
Author: horizon bonhure

15. Try Using These Tips When Buying Real Estate
Author: Sapphire Home

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: