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Old 06-02-2016, 03:54 PM
 
Location: Austin, TX
15,269 posts, read 35,630,016 times
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While none of this is relevant to the OP's question, I will add my 2 cents:
- The HSE does not transfer in any way, shape, or form; however, when a house changes ownership, the effects of the HSE continue - i.e., the 20% reduction in assessed value for the remainder of the year.
- The +10% assessed value increase per year, though, is lost. So the price can jump immediately to the appraised value/sales price the next year.
- The new owner needs to apply for a new HSE the next year.
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Old 06-02-2016, 07:19 PM
 
Location: Austin
7,244 posts, read 21,806,338 times
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Quote:
Originally Posted by heather121 View Post
This is not true, at least not in Travis County. I bought in late January 2015 and the previous owner's homestead exemption did not get grandfathered to me for 2015. My realtor and title agent told me what you said (that it would be grandfathered) but when I asked TCAD, they specifically stated that it did not transfer with the property and that I had to apply for it in 2016.
Was the house vacant when you closed, and/or had the sellers already bought something before the end of December the previous year? If so, then there was no homestead exemption to remain on the house as it was removed when the sellers claimed ownership on another property before Jan 1.
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Old 06-03-2016, 04:52 AM
 
4,843 posts, read 3,270,079 times
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I expect what they're saying is that the tax district doesn't change the tax for the parcel for that particular year if it sells in July (or whatever). New owner picks up the established tax obligation at that point (so the old exemption 'carries forward') but come the first of the year, must apply for the HS exemption in their own name.
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