Taxes (Austin, Howe, Hays: rental, loan, how much)

[Phisch]

A couple of questions. How much time after moving to Texas do you have to get a driver's license and new license plates for a car?

What is a homestead tax exemption and how does that work?

[satanoid]

For travis country, fill this out and follow instructions.
http://www.traviscountytax.org/pdfs/...FormEngSpn.pdf

It gets you a tax break, that's all I know.

[Trainwreck20]

The homestead exemption basically reduces the taxable value of your home by 15k (not percent). It varies slightly from place to place and by taxing authority. Unless you are really into the details, just fill out the request form for the exemption and it will save you a few bucks. The important part is that (at least in some areas of town, it is important) it limits your taxable value increase to 10% per year.

As for the plates and DL - I think the DL is 30 days, not sure on the plates. I have known people that went a long time with old plates without getting any grief, but don't know if that is the rule or the exception.

[love roses]

I went to get my expired, out of state license changed over, and since I had let it lapse, I have to take the entire driving test all over again. Took the written today (luckily passed), and have to take the driving part tomorrow. However, this is Williamson County, so don't know if Travis does the same. It did say 30 days to change it over once you move to Texas.

[Jazzedforhim]

Originally Posted by Trainwreck20

The homestead exemption basically reduces the taxable value of your home by 15k (not percent). It varies slightly from place to place and by taxing authority. Unless you are really into the details, just fill out the request form for the exemption and it will save you a few bucks. The important part is that (at least in some areas of town, it is important) it limits your taxable value increase to 10% per year.

As for the plates and DL - I think the DL is 30 days, not sure on the plates. I have known people that went a long time with old plates without getting any grief, but don't know if that is the rule or the exception.

Do you know what is required to be eligilbe for the homestead exemption? This is the first I've heard of it.

[Trainwreck20]

To paraphrase (I don't know what it REALLY says): The house must be your primary residence. Basically, rental property cannot claim the homestead exemption. Historically, this also prohibited you from using your house as collateral on a loan, but that was allowed some years ago now.

[tashina]

For car info, try this:
Driving in Texas - Newcomers Auto Information for Austin Texas

You have to do it in the right order so it's good to see an ordered list.

[atxcio]

Originally Posted by Jazzedforhim

Do you know what is required to be eligilbe for the homestead exemption? This is the first I've heard of it.

You just have to live in your home for the basic homestead exemption. Every homeowner here should have it for their primary residence... the forms may be different for different counties, but I think the standard exemption is $15000 off the appraised value, plus a 10% per year cap. It might not sound like much, but you'd be throwing away at least hundreds in yearly savings if you didn't have it (2.75% or .0275 * $15K = $412 savings)

I believe there is another requirement -- that you were residing in your home January 1 of that year. So, if you buy late in the year, you can file just after January 1st of next year. I believe you have to file by the end of April. You shouldn't have to worry too much about the months from whenever you bought through the 1st of the year -- those months will probably be lower anyway due to the previous owner/value or because it was a new house.

A VERY important thing to mention is that filing for the exemption IS FREE. After you move in, you'll get lots of junk mail (some looking official) offering to file your homestead exemption for a fee. Don't fall for that. Just go to the appraisal district web site, print the form and mail it. Or, if you need more assurance you are doing things right, just call the appraisal district or drop by the office. They will tell you exactly what to do, and you'll be able to verify your status later (usually via the web appraisal roll search -- it will list the exemptions).

For example, for Hays county go here: http://www.hayscad.com/

Click the "Forms" link.

Travis county: Travis Central Appraisal District - Appraisal Roll Information

Williamson: Williamson Central Appraisal District

[jennyb315]

atxcio-- thank you for the link and the info. appreciate it

[Phisch]

Thanks for the info. As our realtor told us, the amount isn't much but it's still something! I'll take any tax discount I can get.

Also, there's a place near where we are that had a sign TexasTag on the outside. Is that an office of the department of motor vehicles? I didn't bother parking to find out.