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Old 01-10-2009, 09:03 AM
 
Location: Benbrook, TX
23 posts, read 129,999 times
Reputation: 31

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Thanks for all the info guys!

Quote:
Originally Posted by jcamber View Post
I actually got the same form in the mail a few days ago as well and it came from TAD so I know they do send these (I bought my home in march 08).
Yeah, I've gotten the scam forms, then this real one. It's amazing how many "give us $70 because we want you to think you can't write your own name" mailings I get!

Quote:
Originally Posted by rcrdoeva View Post
you had to have lived there on January 1st of 2008 to get the exemption. That's why you are now eligible for this year.
I bought my house in February, 2008. But my 2008 Tax Statement actually shows an exemption of 15K for FW ISD and 5K for city of Benbrook and says "Exemption: HS001". I guess that's because the previous owner has filed for exemption.

Just realized the form they sent says 2009 so I'll fill it out and I guess I'll be set for this next tax year.

Thanks guys for all the info! I'm sure this thread will be a handy resource for future home buyers.
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Old 01-10-2009, 09:12 AM
 
14,642 posts, read 27,910,819 times
Reputation: 5110
when we closed on our new house end of Oct 08 --that we don't have the exemption for at this time--the sellers held out of the monies they were due at closing the amount of taxes--because we are responsible for actually paying the taxes for 2008 since the bill will come in 2009---they prorated our amount of tax (2 months out of 2008) based on what they paid the year before...so they gave us 10 months of tax money at closing and said that is the best estimate of what their part would be...and I don't think the TAD appraisal has gone up from 2007

now we need to see about getting this house as our homestead w/exemption and letting go of the one on the house we need to sell...
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Old 01-12-2009, 02:56 PM
 
232 posts, read 650,697 times
Reputation: 202
Quote:
Originally Posted by EllenArlingtonPark View Post
You can only claim the exemption at certain times of the year for the first time and you must file it every year. I think you have until the end of January. Texas has very unique laws about your home. Homesteading means that this is your primary residence, it also means that only a taxing authority (IRS or non-payment of property taxes) can take your home from you. Unlike other states, if you are in a lawsuit or default credit cards, they cannot take your home with a homestead exemption. A homestead exemption is a good thing for sure and saves you lots of money!

Welcome to Texas!
Ellen, you are confusing the legal protection given to a homestead and the benefits of a "homestead tax exemption". You still have your legal homestead rights, even if you fail to file the homestead tax exemption with the appraisal district.

Also, taxes are levied against the owner of the property on January 1 of the year in question, although they aren't due until Feb. 1 of the following year. This is why you can't prorate the homestead tax exemption.

Hope this helps.
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Old 01-15-2009, 08:41 AM
 
14,642 posts, read 27,910,819 times
Reputation: 5110
printed from the TAD site the homestead exemption form and took it to the TAD office and turned it in for the 2009 switch from our old house to new house -- had to sign another form to release the old house's exemption...nice lady--short wait
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Old 01-18-2009, 06:59 PM
 
Location: Fort Worth, TX
3 posts, read 9,630 times
Reputation: 10
The only way you would qualify for the exemption for 2008 is if (a) you closed on the home by Jan 1 or (b) the previous owners (if a resale property) had an existing homestead already in place. If you didn't close by then, but the previous owners had the H/S exemption, you could essentially "ride on their coat-tails" for 2008 until it was your turn to file (which is now).

You should definately send in the form and then double check on the TAD.ORG website or call TAD to verify they received your form. I belive you have until sometime in April to turn it in, but I'm not 100% sure. Best to just do it now and know it's taken care of. You only complete the form once and then it's effective for the rest of the time you own the home, unless you buy another property and then make that one your primary residence, and it's very simple to fill out. Please do not pay anyone to do this for you...there's no reason to pay.

Also, if you may qualify for additional exemptions if you have eligible disabilities or are 65+ years old.
If you purchased new construction...there was never a homestead to benefit from previously until you could file for 2009. However, often times when you buy new construction, the initial year of property tax is low because the county may have not assessed the improvements, thus you only pay tax on the dirt...depending on when they did their assessment vs. when the improvements were built. Hopefully your mortgage company estimated your taxes based on dirt + house, so that you are paying in sufficient amount for property taxes, or at least setting it aside. Lots of folks run into trouble because they unknowingly aren't putting enough back. Hope that helps! Please do fill out that form...the H/S saves you a little money, and these days, any savings you can get sure does help!
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Old 02-19-2009, 08:18 PM
 
1 posts, read 3,779 times
Reputation: 10
i just found out about this homestead today and im going crazy because i bought my house in march 06 and my tax been jumping off the bridge. Im sending the form today. Can i file with my 08 tax returns or its only through the appraisal d.??
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Old 02-23-2009, 04:53 PM
 
Location: TX
5,413 posts, read 10,684,544 times
Reputation: 1672
Texas Property Tax Exemptions
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Old 02-24-2009, 12:35 PM
 
2,893 posts, read 3,577,647 times
Reputation: 1925
Quote:
Originally Posted by dopestyzo View Post
i just found out about this homestead today and im going crazy because i bought my house in march 06 and my tax been jumping off the bridge. Im sending the form today. Can i file with my 08 tax returns or its only through the appraisal d.??
It doesn't go on your Federal taxes at all. It will show up the next time your county sends you an appraisal on your home and notifies of the tax for the year. So it's already done for this year, but now that you've got it in, you should see it reflected on next year's property tax bill.
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Old 03-08-2009, 11:15 AM
 
Location: Fort Worth, TX
3 posts, read 9,630 times
Reputation: 10
Default Homestead Exemption

"i just found out about this homestead today and im going crazy because i bought my house in march 06 and my tax been jumping off the bridge. Im sending the form today. Can i file with my 08 tax returns or its only through the appraisal d.??"


The appraisal district should have mailed you a notice with the form that needed to be completed, but no worries, you can download it from their website. I'm not sure which county you are in, but if you go to that county's appraisal district website, you can pull the form and send it in. You should do it RIGHT AWAY so that at least you will get the benefit of the exemption for your 2009 property taxes...meaning filing the exemption now could help to reduce your property tax bill when 2009 taxes become due by next Jan 31, 2010.

Doing this process is separate from anything that has to do with your federal income tax return, with the exception that to an extent, property taxes can be deducted on your income taxes (check with your CPA for more details), and then obviously those figures might adjust somewhat if what you are paying changes after an exemption. But that is totally separate. The main thing is just to file the homestead. You only do it once, and you'll never have to worry about it again. You will gain the benefits of it year after year once you file it. It is too late (as far as I know) to go retroactive and try to get a property tax break for any of the time you've owned the home until now. You might even be making a mortgage payment currently based on the higher tax amount, but once the homestead goes into affect for 2009 tax bills, that can be worked out and adjusted with your mortgage company. Hope that helps a little. Don't wait though...get that form turned in and then call to verify with the CAD that it's been received and accepted.
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Old 03-30-2009, 11:20 AM
 
Location: Fort Worth, TX
11 posts, read 20,637 times
Reputation: 10
I was going some research, and we are closing on our home this April 1st, I checked out the taxes which my mortgage company calculated that I have to pay and the amound is the amount as though I have homestead. I went to the tax side and found the exact amount the previous owner was paying under homestead exemption, and I calculated what my amount would be without homestead.

Since the previous owner was under homestead exemption if my informartion gets updated on the website can I apply for homestead as long as I do it before April 30th deadline? or will i have to dish out the difference next year for the 2009 taxes and apply for homestead in 2010.
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