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First Time Homeowner in Texas?
What do taxes pay for? Property Taxes help support public schools and other educational institutions,
libraries, playgrounds, city streets, county roads, emergency services for police,
fire, medical and many other services.
What does the CAD do? A large part of each appraisal district's job is to estimate what your property is
worth on January 1, what a property is used for on January 1, market conditions at
that time and who owns the property on that date to determine whether the
property is taxed, its value and who is responsible for paying the tax. Your
appraisal district also processes applications for tax exemptions, agricultural
appraisals, and other tax relief.
What is an appraisal notice Each CAD is responsible for sending all property owners an appraisal notice around
and its function? April 1 or soon thereafter for most taxable properties. This notice will inform the
property owner of its taxable value and information such as: current year
appraised value, value greater than rendered by the owner, property that was not
on the appraisal roll in a prior year, an exemption or partial exemption approved
or in preceding year was canceled or reduced for the current year. It also includes
the list of taxing units which tax the property, the appraised value in the preceding
year, the process for filing a protest and the current year deadline for filing.
Who is and what does the A citizen board, called the appraisal review board (ARB), hears any disagreements
ARB do? between a property owner and the appraisal district from the appraisal notice.
Around May 15, the appraisal review board begins hearing protests from property
owners who believe their property values are incorrect or who did not get
exemptions or agricultural appraisal. When the ARB finishes its work, the appraisal
district gives each taxing unit a list of taxable property.
When are taxes due? Every property is taxed by the county and the local school district. You also may
pay taxes to a city and to special districts such as hospital, junior college, water,
fire, and others. Tax collection starts around October 1 as tax bills go out.
Generally, taxpayers have until January 31 of the following year to pay their taxes.
On February 1, penalty and interest charges begin accumulating on most unpaid
What is the Homestead An adult is entitled to a portion of the residential homestead property value to be
exemption? exempt from taxation as legislatively provided.
What is a Homestead CAP Once the market value is determined for your residence homestead property, the
(Limitation)? taxable appraised value of a residence homestead is limited to an increase of no
more than 10 percent per year unless new improvements have been made.
Do all Taxing Units provide a Not all entities offer the exemption or the same amounts, you will need to review
Homestead exemption? your appraisal notice for the allocated exemptions.
January 1st - Date that determines taxable property values and homestead exemption
- Last day to pay taxes of prior year before any penalties and interest are
April 1st Appraisal notices mailed for single-family residence that qualified for
April 15th Business Personal Property - Last day for business property owners to file
renditions or request an extension for rendition to May 15th
April 30th Last day to apply for many types of exemptions. Optional early deadline for
filing protests to the Appraisal Review Board for residence homesteads;
however, protests may be filed without penalty until May 15, or within 30 days
of the date a notice of appraised value is mailed to the property owner.
May 1st Appraisal notices mailed for all non-homestead property.
May 15 Last day to file most protests with ARB (or by 30th day after notice of
appraised value is delivered, whichever is later.
July 25th Date the appraisal roll is certified to each taxing unit.
October Tax bill mail outs this month. Payments are timely until end of January.
January 31 Last day to pay property taxes without penalty and interest.
See www.bellcad.org website for full calendar and other tax related information!
What is the average 30 year mortgage rate? The current average 30-year fixed mortgage rate climbed 3 basis points from 4.97% to 5.00% on Sunday, Zillow announced. The 30-year fixed mortgage rate on May 1, 2022 is up 1 basis point from the previous week's average rate of 4.99%.
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