property taxes

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Even if the bank doesn't have a lien on your home, if you don't pay your property taxes, the county will sell it and you have only 2 years to redeem with tremendous penalties (25% first year and 50% second). If it sells for more than what is owed, you HAVE to hire a lawyer for $1,000 (find one who will work for this) to get your balance from the county.  If you don't, you just paid even more tax as the county will keep the difference.  

General Residence Homestead Exemption. The general residence homestead exemption is a $100,000 school tax exemption. This means that your school taxes are calculated as if your home is worth $100,000 less than its appraised value. For example, if your home is appraised at $300,000, you will only be taxed on $200,000.

Senior and Disabled Exemptions. If you are over 65 or disabled, you qualify for an additional $10,000 school tax exemption. This exemption may be larger in some districts.

Veteran Homestead Exemptions. The veteran homestead exemption is based on the veteran’s disability rating.   

*taxlawhelp.org

 General residence homestead exemption. You are eligible for a homestead exemption if you (1) own your home (partial ownership counts), (2) the home is your principal residence, and (3) you have a Texas driver’s license or Texas-issued personal identification certificate (your I.D. card address must match your principal residence address).

Homeowners who qualify for a general residence homestead exemption are also eligible for the following exemptions if they meet these criteria:

• Over 65 exemption: For homeowners 65 and older. If you are over 65 when you die, your surviving spouse, if they are 55 or older, will get your over-65 exemption.
• Disability exemption: For homeowners (not their children) who have a disability that would qualify for Social Security Disability benefits. If you are a senior with a disability, you can take only one of the exemptions.
• Veteran exemption: For veterans with a disability, their spouses and survivors, and spouses and survivors of military personnel killed on active duty. The amount of the exemption depends on the percentage of service-connected disability.

*taxlawhelp.org

https://www.collincad.org/downloads/viewcategory/13-residential-exemptions

https://comptroller.texas.gov/taxes/property-tax/forms/

It's your civil duty to challenge your property tax valuation! 

You can do it yourself or you can hire someone. There are major companies out there such as Ownwell. You would assign them as your agent in the protest and any savings they find for you, you will pay them 25% of the savings. There are also independent Property Tax Consultants such as myself, Melissa Pittana, that can help you as well. 

https://www.nolo.com/legal-encyclopedia/should-you-challenge-your-property-tax-assessment-texas.html

https://www.collincad.org/download/forms

 Below are suggestions to prepare for your protest before the ARB: 

• Ask one of the appraisal district's appraisers to explain the appraisal.
• Check the appraisal to make sure the property description and measurements of your property are correct.
• Check the appraisal to see if it accounts for hidden defects — for example, a cracked foundation or inadequate plumbing. Evidence of a hidden defect could be a photograph, or a statement from a builder or independent appraiser.
• Ask the appraisal district for the appraisal records on similar properties in the area to learn if similar properties are treated equally. 
• Consider using an independent appraisal by a real estate appraiser. Insurance records are often helpful.
• Get documents or sworn statements from any person providing any sales information.
• Use sales of properties that are similar to the subject property in size, age, location, and type of construction.
• Use sales that occurred closest to Jan. 1. 
• Use recent sales. 
• Weigh the costs of preparing a protest against the potential tax savings. Preparing a protest may not be worth the time and expense if it results in only a small tax savings.
• Ask the appraisal district for all information it used to set the value of your property. The appraisal district must give you the copies of the data, even if the information would normally be considered confidential.
• Ask for a copy of the data, schedules, formulas, and any other information that the appraisal district plans to introduce at the hearing. The appraisal district must deliver this information during the 14 days before the protest hearing.