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Many Texas residents devastated by the winter storms in February 2021 may be eligible for property tax relief thanks to an exemption included in the Texas tax code. Based on the Texas property tax rules, property owners who experience significant property damage in a disaster area declared by the governor may qualify for a temporary exemption on property tax imposed on qualified property.
Under the Texas tax code, Texas property owners may be eligible for a temporary exemption of a portion of the appraised value of the property that is at least 15% damaged by a disaster in a governor-declared disaster area. Qualified property includes:
To determine your eligibility, a chief appraiser will leverage information supplied from a country emergency management authority, the Federal Emergency Management Agency and other appropriate sources to assign a damage assessment rating. This rating determines the percentage of appraised value of the qualified property to be exempted. The exemption amount is determined by multiplying the property value after applying the damage assessment rating to a fraction (365 divided by the number of days remaining in the tax year after the date the governor declares the disaster).
Below is an overview of the exemption amounts based on the damage assessment rating received:
Impacted Texas residents who qualify should act fast, as the property owner must request the temporary exemption no later than 105 days after the governor declares a disaster area, which is May 28, 2022. The appraisal district will then confirm the damage and determine the exemption percentage. The temporary disaster area exemption expires on January 1 of the first tax year in which the property is reappraised, which is Jan. 1, 2022.
To take advantage of this Texas property tax exemption or for assistance to help determine whether you qualify, contact Doeren Mayhew’s dedicated Houston tax advisors today.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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